Oil prices closed with mixed signs on Tuesday, with US crude closing with small losses and Brent climbing to the upside.
The pressure on the US contract was caused by the statements of the leader of the House of Representatives, Steny Hoyer, who disagreed with the views expressed for the use of the government in the strategic stocks in order for the prices to fall.
Speaking to reporters, Hoyer said he disagreed with Senate Majority Leader Chuck Schumer, who recently proposed using strategic reserves to cut gasoline prices.
At the same time, the International Energy Agency (IEA) in its latest market assessments said it expects the gradual increase in production in the coming months to help reduce supply shortages, thus pushing up prices.
The IEA said it expects production to increase by 1.5 million barrels per day for the rest of 2021, with the US, Saudi Arabia and Russia accounting for about half of that increase.
Against this background, the December crude contract lost 12 cents or almost 0.2% and closed at $ 80.76 a barrel on the New York Mercantile Exchange. This is the lowest closing since November 4th.
Brent in January, meanwhile, rose 38 cents, or 0.5 percent, to $ 82.43 a barrel on ICE Futures.
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