• Oil prices settled lower on Tuesday, after U.S. data stoked concerns that interest rates may stay high, but potential risks to supply from Mideast tensions and wildfires in Canada put a floor under prices.
• Brent crude futures settled down 98 cents, or 1.18% at $82.38 a barrel. U.S. West Texas Intermediate crude futures (WTI) settled down $1.10, or 1.39% at $78.02 a barrel.
• U.S. producer prices increased more than expected in April, feeding fears the Federal Reserve may keep borrowing costs elevated to fight inflation.

https://www.reuters.com/markets/commodities/oil-prices-tick-up-tighter-supply-outlook-2024-05-14/