Prices for the U.S. oil price made moderate movements Tuesday, settling a few cents lower for the session after climbing more than 4% a day earlier. Traders tracked recovery speeds for energy production in Texas and also measured potential outcomes for next week’s meetings among major oil producers. “Oil prices have continued to look stable … in anticipation of a reasonable increase in demand,” said Michael Hewson, chief market analyst at CMC Markets UK. “But at those levels, it could be argued that the benefits look a little further. That doesn’t mean we won’t see a move towards $ 70 per barrel” for Brent, but must Weekly data on U.S. petrol supply will be released by the American Petroleum Institute late Tuesday, followed by an Energy Management Information report Wednesday. West Texas Raw Intermediate CLJ21,
fell 3 cents, or nearly 0.1%, to settle at $ 61.67 a barrel.