WASHINGTON (dpa-AFX) - Crude oil prices declined mildly on Tuesday as demand concerns and rate hike worries were back in the spotlight.
Weak economic data from China and fears of the Fed keeping rates higher for longer abetted the bearish sentiment for the black liquid.
Brent Oil Futures for October settlement which had finished Monday's trading at $84.46, ranged between $85.86 and $83.86 on Tuesday. It is currently trading at $84.41, having shed 0.06 percent from the previous close.
West Texas Intermediate Crude Oil Futures for October settlement traded flat at $80.12. Prices ranged between a high of $80.38 and a low of $79.61 on Tuesday.
Markets would also be closely watching industry level inventory data for the week ended August 18 to be released by the American Petroleum Institute later in the day. Analysts expect the inventories to decline by 2.9 million barrels per day versus 6.20 million barrels per day in the previous week.
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