NewsBreak: Oil Prices Fall on Report of Saudi Quickly Restoring Output

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Investing.com -- Oil prices tumbled Tuesday after a Reuters report cited a Saudi official as predicting the kingdom could fully restore oil output within two to three weeks. Earlier reports suggested it would take far longer to bring output back to normal after missile attacks over the weekend took an estimated 5.77 million barrels a day of production offline.

  • WTI Futures at $59.62 a barrel vs $62.02 immediately before the report.

  • Brent crude futures at $65.64 a barrel vs $67.77 before hand.

  • Energy Minister Prince Abdulaziz bin Salman is due to hold a press conference at 1:15 PM ET (17:15 GMT)

    •  https://www.investing.com

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