US West Texas Intermediate crude futures tumbled $1.10, or 1.3%, to $82.81 a barrel, after dropping to a low of $82.26 earlier.
“World leaders are running out of cards to pressure Opec+ and that should mean whatever dip that comes from tapping strategic reserves from China or the US is likely to be bought into.” Opec+ meets on Thursday to review its policy and is expected to reconfirm plans for monthly increases.