Oil losses 1% as US refineries shut; OPEC+ decision

Global benchmarks for crude oil settled lower on Tuesday, 31 August 2021 as traders await the decision from OPEC+ on whether to push ahead with lifting production outputs of 400,000 barrels per day. Meanwhile, the COVID-19 outbreak continues to spread across Asia while US refineries remain shut due to the hurricane. 

Brent for October, which expired on Tuesday dropped 42 cents or 0.6% to $72.99/barrel.

WTI settled down 71 cents or 1% at $68.50/barrel.