Brent oil lower amid stronger dollar, caution ahead of Fed minutes
The Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday, News.Az reports citing Reuters.
Brent crude was down 59 cents, or 0.5%, at $83.57 a barrel on Tuesday. U.S. West Texas Intermediate crude (WTI) for March, which expires on Tuesday, was up 78 cents, or 1.02%, at $77.12 at 0146 GMT.
WTI futures did not settle on Monday because of a public holiday in the United States. The WTI April contract, currently the most active, was up 52 cents, or 0.68% at $77.07.