Crude oil futures tumbled Tuesday morning ahead of closely-watched U.S. inventories data.
Industry group API is out with its estimate of U.S. stockspiles this afternoon, while official figures from the Energy Information Administration is made public tomorrow morning.
Traders are looking for indications that U.S. producers are scaling back amid the ongoing price war started by OPEC.
U.S. crude oil for October was down $1.20 at $45.49 a barrel, trimming gains from the previous session. Crude has bounced back and forth around $45 this month.
The material has been provided by InstaForex Company – www.instaforex.com