Oil mixed on forecast of falling U.S. fuel stockpiles - Reuters

Oil mixed on forecast of falling U.S. fuel stockpiles - Reuters:

Oil prices were mixed on Tuesday, paring earlier steep losses as investors focused on signs that U.S.-China trade tensions could ease next month and expectations that U.S. refined product stockpiles declined last week.

Brent crude LCOc1 settled at $61.59 a barrel, up 2 cents, after falling as low as $60.66. U.S. West Texas Intermediate CLc1 crude ended 27 cents lower at $55.54 a barrel, after earlier hitting a session low of $54.61.

U.S. refined product inventories were seen declining last week as refinery runs remained relatively low. Gasoline stocks likely fell 2.2 million barrels, which would their fifth weekly drawdown, while distillates which include diesel and heating oil, were seen falling for a sixth week in a row, forecast to have dropped by 2.4 million barrels, according to a Reuters poll.