The price of oil slipped Tuesday as expectations of a buildup in U.S. crude inventories dampened sentiment.
Benchmark U.S. crude for April delivery was down
Oil rose Monday as another cold spell for the U.S. Midwest and Northeast was expected to boost demand for heating oil at a time when many refineries are undergoing seasonal maintenance.
Supplies, however, also appeared to be robust with weekly crude stocks on a rising trend. Investors are waiting for a weekly U.S. stockpile report due later this week that is likely to show further gains.
Some analysts expect oil prices to drop in the spring, when many refineries will be carrying out maintenance work, which is temporarily accompanied by lower oil demand.
Jitters over a slowdown in
Brent crude, which is used to set prices for international varieties of crude, fell
In other energy futures trading in
— Wholesale gasoline fell
— Heating oil was up
— Natural gas lost
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