"Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories", ANZ bank said in a note.
The American Petroleum Institute will issue its weekly USA oil inventory data at 4:30 p.m. EDT, ahead of the US government's official report on Wednesday.
Crude oil prices trade around a crucial support level at $47. Analysts expect a drop of 3.176 million in crude stocks in the US last week, and a 1.527 million decline in gasoline inventories with distillate supplies down by 620,000 barrels.
Futures fell 0.8% in NY after Monday's 2.5% decline, the biggest drop in more than five weeks.
Markets were expecting a draw of around 3.5 million barrels for the week, although with inevitable caution given volatile API data over the past 2 months. U.S. West Texas Intermediate crude futures CLc1 were trading at $48.51, down 31 cents.
"The market took this as a mildly bullish report", said William O'Loughlin of Australia's Rivkin Securities.
However, petrol stocks climbed by 301,000 barrels, compared with analyst expectations in a Reuters poll for a 1.1-million barrel decline.
Chelsea look to sign Alex Oxlade-Chamberlain
He will continute to move up beecause the potential is there. 'Personally, I think he is a hugely talented player. Chelsea have launched a £25million move for Arsenal midfielder Alex Oxlade Chamberlain according to reports .
Sarah Emerson, energy principal at ESAI, remarked, "If OPEC wants to keep oil prices in the $50s and hit $60, the organization will have to keep a lid on supply for several more years".
The recent OPEC/non-OPEC capacity cuts have meant that India has had to diversify its crude suppliers, with state-run refiners making purchases of U.S. crude grades.
Libyan production has surged in the past year, surpassing 1 million bpd at the end of June for the first time since 2013, but output remains vulnerable to local protests. Production at shale fields is forecast to expand to 6.15 million barrels a day in September, according to a report from the Energy Information Administration. As Market Watch writes in an article "Oil settles at 3-week low as OPEC and USA crude output grow", oil fell sharply Monday, with concerns over rising crude output from OPEC members and US shale-oil producers pushing prices to their lowest finish in three weeks.
"Excessive supply.is continuing to weigh on oil prices".
The price of oil will be influenced late Tuesday afternoon when the American Petroleum Institute releases its data on oil and gasoline stockpiles. Even so, Citigroup Inc.'s Ed Morse says shale will win over OPEC on oil, as USA drillers can survive due to hedging.
On the demand side, analysts see a gradual slowdown in fuel consumption growth.
The most recent federal report on climate change in Canada appears to be a Natural Resources Canada report from 2014. It's unclear whether the administration will try to suppress the report, but the scientific community is watching.
Onomah is eligible for this weekend's Sky Bet Championship opener against Hull City after training with his new team-mates. Tottenham manager Mauricio Pochettino has explained why he allowed Josh Onomah to join Aston Villa on loan this season.
There's no chance it isn't going to happen again. 'It is a big test but it is a big opportunity that is how we have to look at it. Liverpool will line up against Hoffenheim tomorrow with some key players missing out on the tie due to injury.
NDP leader. "Growing a strong economy for the future requires taking leadership on the environment and we have done exactly that". The NDP government appears to be making good on its promise to oppose Kinder Morgan's Transmountain Pipeline expansion.
Tickets sold in California, Florida and Tennessee each won a share of that world-record setting jackpot on January 13, 2016. The Powerball jackpot has not been won since June 10, when a California player won an annuity jackpot of $447.8 million.
Security Council has unanimously approved new sanctions on North Korea including banning exports worth over $1 billion. While the draft resolution would impose biting economic sanctions, the USA didn't get everything it wanted.
Confirming about the formal invite, Shah on Saturday tweeted, "I met JD (U) president Nitish Kumar at my residence yesterday". The JD (U) at its August 19 National Executive Committee meeting is likely to formally join the NDA.
She claimed she was there to talk about her personal experience with violence, as some of her family members have been murdered. For her part, Manigault knows she isn't popular with other African-Americans, and she resents their lack of support.
He said that the raids were "politically motivated" and the Congress will not "bow down to such intimidation". Jaitley, while addressing the Lok Sabha, said that the raids are being conducted purely on economic front.
Taylor Swift's blunt message to men
Mueller , seeking up to $3 million in damages, said that it was in fact his co-worker, Eddie Haskell, who had grabbed the singer. But when shown the photo in question, Call said, Mueller responded: "Well, if it did happen, it was accidental".
Lurid Harassment Story Triggers Suit by Fox News Host
Fox Business host Charles Payne is now suspended, pending the outcome of an investigation into his own sex harassment charges. The Weiss firm was also brought in to investigate Bill O'Reilly and Roger Ailes before they were ousted from the network.
North, South Korean top diplomats talk in Manila
In view of this positive momentum, they reaffirmed their readiness to begin the substantive negotiation on the COC. He added that the framework "will pave the way for the textural negotiations on the CoC in the coming year".
First West Nile Virus of 2017 found in Niagara
Steve Ford, administrator of the health department, said the mosquito tested positive at the Indiana State Health Department lab. The culex mosquito, health officials say, is the species responsible for transmitting the West Nile virus from birds to humans.