In the early morning of the 22nd Beijing timeTiger'sHoardHunt, U.S. WTI crude oil futures prices closed down on Tuesday. The crude oil market currently lacks support for crude oil pricesTiger'sHoardHuntAn important market catalyst.
West Texas Intermediate crude (WTI) futures for June delivery fell 54 cents, or 0.5 percent, on the New York Mercantile ExchangeTiger'sHoardHunt.68%, closing at 79 per barrelTiger'sHoardHunt.26 dollars.
The U.S. Department of Energy announced on Tuesday that it will sell nearly 1 million barrels of gasoline from the northeastern U.S. gasoline supply reserve to lower oil prices.
The sale is planned to take place from storage locations in New Jersey and Maine and will be distributed in increments of 100,000 barrels at a time. The U.S. Department of Energy said the approach would ensure that gasoline would flow into local retailers by July 4 and be sold at competitive prices.