Oil Market Update : Epic Research Singapore

Oil futures settled at a two-month low Tuesday after the U.S. government announced plans to sell millions of barrels of oil from its Strategic Petroleum Reserve, as traders bet on a further weekly increase in crude supplies.

Natural-gas futures NGX15, -0.38% meanwhile, ended higher but not before briefly dipping below $2 per million British thermal units. They settled on Monday at their lowest levels in three years.

December West Texas Intermediate crude CLZ5, +0.14%  fell 78 cents, or 1.8%, to settle at $43.20 a barrel on the New York Mercantile Exchange. That was the lowest settlement since Aug. 27. December Brent crude on London’s ICE Futures exchange LCOZ5, -0.02%  lost 73 cents, or 1.5%, to $46.81 a barrel.

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