Mubasher: Oil futures ended in the red territory on Tuesday despite OPEC+ decision to extend oil output agreement.
August Nymex WTI fell $2.84, or 4.8%, to close at $56.25 per barrel.
Russia and another nine producers agreed with members of the Organization of the Petroleum Exporting Countries (OPEC) to extend the oil supply cuts to nine months, ratifying thereby a move to shore up crude prices.
Source:
Mubasher
