Oil prices settled little changed on Tuesday as demand concerns due to a new surge in coronavirus cases overshadowed US government forecasts for lower production.
Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.
Early in the session, the market popped because of the higher forecast demand, and more bullish jobs data, said Phil Flynn, senior analyst at Price Futures Group in Chicago. But the market gave up the gains as focus returned to rising coronavirus cases.
