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U.S. government released a report early Tuesday and raised its forecast on domestic crude output for this year and next. U.S. also cut its 2017 price outlook.
The EIA Tuesday forecast U.S. crude production at an average 9.31 million barrels a day in 2017, up 1% from the previous forecast.
Gold futures fell Tuesday to their lowest settlement since March, as strength in the dollar and growing expectations for a U.S. interest-rate hike next month dulled demand for the metal.
The euro experienced a sluight pulled back, after a brief relief rally over centrist reformer Emmanuel Macron’s victory in Sunday’s French presidential election.