Oil Market Update : Epic Research Singapore

Oil futures staged a comeback on Tuesday, paring most of their losses by the settlement as the market turned much of their attention away from the terror attacks in Belgium.

Oil found some support from expectations that data may show a decline in U.S. crude production and that major oil producers will make a decision next month that may help slow global output.

On its first full trading day as a front-month contract, May West Texas Intermediate crude CLK6, -1.06% shed 7 cents, or 0.2%, to settle at $41.45 a barrel on the New York Mercantile Exchange after trading as low as $40.77.

May Brent crude LCOK6, -1.01%  on London’s ICE Futures exchange tacked on 25 cents, or 0.6%, lower at $41.789 a barrel.

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