Oil Finishes Mixed on Coronavirus Fears and Output Disruptions

Oil prices closed Tuesday on a mixed note, amid continuous fears about the resurgence of the Coronavirus pandemic in many countries with concerns about the rollout and the efficacy of the vaccines.

However, output disruptions continued to provide some support for crude prices.

The global benchmark, Brent crude futures for March delivery rose by 3 cents and closed at the level of $55.91 per barrel.

Meanwhile, the U.S. West Texas Intermediate (WTI) futures for March delivery declined by 16 cents and settled at $52.61 per barrel.