Crude oil futures were lower Tuesday morning amid profit-taking as U.S. stocks were set for a sell-off.
The Dow Jones Industrial Average is set to fall 200 points in early dealing.
Meanwhile, there are signs that U.S. and Canadian production will be ramping up, denting oil prices.
The Fort Hills oil sands project in Alberta, Canada, has achieved first oil, investor Total said Monday.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by 12 at 759 this week, as U.S. companies want to take advantage of oil prices at their highest in four years.
It was the biggest weekly rise seen in the Permian field since 2013.
WTI light sweet crude oil was down 60 cents at $64.97 a barrel this morning, easing from a recent yearly peak above $66.
The material has been provided by InstaForex Company – www.instaforex.com
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