Oil prices fell Tuesday, with the U.S. benchmark marking its lowest settlement in almost three weeks. Prices have declined on the back of a risk-off sentiment, on the heels of a recent plunge in U.S. stocks, as well as expectations for rising U.S. crude supplies and production. The Energy Information Administration raised its forecasts on 2018 and 2019 U.S. crude production in a monthly report released Tuesday. The EIA will issue its weekly update on petroleum supplies Wednesday morning, with analysts polled by S&P Global Platts forecasting a rise of 2.8 million barrels in crude stocks. March West Texas Intermediate crude fell 76 cents, or 1.2%, to settle at $63.39 a barrel on the New York Mercantile Exchange. That was the lowest finish since Jan. 19, according to FactSet data.
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