Oil prices fell on Tuesday on fading fears of a prolonged outage at the largest US fuel pipeline system while India’s coronavirus crisis and a tech-led sell-off in global stock markets also weighed. Brent crude futures dropped 83 cents, or 1.21%, to $67.49 a barrel. US West Texas Intermediate (WTI) crude futures fell 84 cents, or 1.29%, to $64.08. The US gasoline futures contract and US heating oil futures, which rose after the outage, retreated to pre-Friday levels on the prospect of the restart. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Source: The Express Tribune May 12, 2021 03:42 UTC