Oil’s three-day rally ended as policymakers made clear they would continue tightening economic reins in the fight against inflation, reigniting fears of a global slowdown.
Oil prices rose as the US intensified strikes on Iran, heightening concerns over Middle East crude supplies despite weaker US fuel demand data.
The U.S. Energy Information Administration raised its Henry Hub natural gas spot price projection for 2026 and 2027 in its latest short term energy outlook.
Fresh U.S. threats to impose sanctions on countries buying Russian oil may complicate ongoing trade negotiations between Washington and New Delhi, according to people familiar with the matter.
At least 11 million barrels of U.S. crude were sold to Asia late on Tuesday, and more deals may follow, according to traders.
The number of employees in the oil and gas extraction industry dropped from May to June, data on the U.S. Bureau of Labor Statistics website showed.
