Crude-oil futures were mixed in choppy trade in Asia Tuesday as investors took profit ahead of the release of weekly U.S. inventory data, while talks of a possible meeting among the major oil producers injected some optimism into the market.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX5, -0.73% traded at $46.33 a barrel, up $0.13 in the Globex electronic session. November Brent crude LCOX5, -0.32% on London’s ICE Futures exchange rose $0.09 to $49.34 a barrel.
“The market is very risk averse and people are not willing to take on longterm bets,” said a Singapore-based trader who specializes in marine fuel.
