Oil mixed in choppy trade before U.S. inventories, OPEC+ meeting | Reuters
Oil traded below $85 a barrel on Tuesday, but remained close to a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories as traders also looked toward Thursday's OPEC+ meeting.
Analysts in a Reuters poll expected weekly U.S. crude inventory data to show a rise of 1.6 million barrels . Industry group the American Petroleum Institute releases the first of this week's two supply reports at 2030 GMT.
U.S. West Texas Intermediate (WTI) crude settled down 14 cents, or 0.2%, to $83.91. Earlier it had dropped more than $1 a barrel. Brent crude settled up 1 cent at $84.72 a barrel, having traded negative for much of the session.
"There's a little bit of uncertainty about OPEC and that's holding the market back," said Phil Flynn, an analyst at Price Futures Group in Chicago. "But we are still in a strong uptrend."
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