U.S. oil futures slipped under $100 per barrel on Tuesday following a drop in heating oil prices as the possibility of milder weather next week curbed demand and raised the prospect of an end to a long winter.
U.S. government data is expected to show a 3 million barrel increase in crude oil inventories, according to a Reuters poll of traders and analysts.
Investors are also awaiting direction on the course of the Federal Reserve’s monetary policy when Janet Yellen, the central bank’s new chief, briefs U.S. lawmakers this week.
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