Oil futures finished lower on Tuesday, as India’s struggle to curb COVID-19 infections raised concerns about the nation’s economy and demand for oil. Prices also declined following news that the U.S. House Judiciary Committee cleared a bill that would leave the Organization of the Petroleum Exporting Countries open to antitrust lawsuits over production cuts. “That would make it illegal for any foreign state to act collectively to limit oil production or set prices, said Justin McQueen, analyst at DailyFX. The bill has a long way to go before it potentially becomes a bill signed into law, and Phil Flynn, senior market analyst at The Price Futures Group said he doubts it will have any real impact in the short run. May West Texas Intermediate crude , which expired at the end of the session fell 94 cents, or 1.5%, to finish at $62.44 a barrel on the New York Mercantile Exchange. June WTI crude , which is now the front month, declined by 76 cents, or 1.2%, to settle at $62.67.
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