Brent crude futures fell 80 cents to $85.81 per barrel by 1003 GMT, while U.S. crude futures fell $1.05 to $79.09
Oil prices dipped on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, while traders look out for U.S. inflation data for further queues.
The DOE had considered cancelling the fiscal year 2023 sale after U.S. President Joe Biden’s administration last year sold a record 180 million barrels from the reserve. But that would have required Congress to act to change the mandate. Monthly reports from the Organization of the Petroleum Exporting Countries are expected later on Tuesday and from the International Energy Agency on Wednesday.
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