Oil futures settled lower Tuesday after a failed attempt to recoup some losses from a more than 5% drop a day earlier.Traders weighed supply-and-demand prospects on the back of the latest reports from the Organization of the Petroleum Exporting Countries and the International Energy Agency, as well as trade data from China.
November West Texas Intermediate crude CLX5, +0.28% settled at $46.66 a barrel, down 44 cents, or 0.9%, on the New York Mercantile Exchange. It climbed to as high as $48.43, but also fell to as low as $46.60. Prices lost 5.1% on Monday for the largest single-day drop since Sept. 1.
Meanwhile, November Brent crude LCOX5, +0.14% lost 62 cents, or 1.2%, to $49.24 a barrel on the ICE Futures exchange.
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