Growing doubts over the potential for an output freeze, as traders bet that data will reveal a fourth-straight weekly climb in U.S. crude inventories, has placed crude prices under pressure.
April West Texas Intermediate crude CLJ6, +0.05% settled at $36.50 a barrel, down $1.40, or 3.7%, on the New York Mercantile Exchange after tapping highs above $38 earlier. May Brent crude LCOK6, -0.08% on London’s ICE Futures exchange shed $1.19, or 2.9%, to $39.65 a barrel.
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