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1st LD Writethru: Oil prices fluctuate after Brussels attacks

Xinhua, March 23, 2016 Adjust font size:

Oil prices fluctuate Tuesday after a series of explosions in Brussels, Belgium.

Official data showed that at least 34 people were killed in explosions at a Brussels airport and on a city subway train Tuesday.

Oil prices fell more than 1 percent after the news, then recovered most of the loss as market saw the crude supply glut to ease.

The U.S. Energy Information Administration is scheduled to release a weekly report of crude inventories Wednesday. Traders expected to see U.S. crude output continue to contract.

Abdallah Salem el-Badri, secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), said Monday that 15 to 16 countries from OPEC and non-OPEC will meet on April 17 in Doha, Qatar, to discuss the output freeze.

The West Texas Intermediate for May delivery moved down 7 cents to settle at 41.45 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 25 cents to close at 41.79 dollars a barrel on the London ICE Futures Exchange. Endit