Oil futures settled at a three-week low on Tuesday, dragged down by uncertainty surrounding the coming Federal Reserve interest-rate decision and a referendum on whether the U.K. should exit the European Union.Futures fell despite a report from the International Energy Agency that showed higher oil-demand expectations.
July West Texas Intermediate crude CLN6, -1.53% lost 39 cents, or 0.8%, to settle at $48.49 a barrel on the New York Mercantile Exchange. That was the fourth consecutive decline in a row and marked the lowest finish since May 23. August Brent crude on London’s ICE Futures exchange LCOQ6, -1.46% lost 52 cents, or 1%, to $49.83 a barrel.
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