US crude oil futures and Brent crude futures settling lower

Both are ending the session down will over 1.5%

The price of WTI crude oil futures are settling the day done -$-0.89 or 1.53% to $57.47/BBL. Meanwhile, Brent crude futures are also settling lower by -$1.28 or -2.01% at $62.45//BBL.

The price of the oil complex have been supported over the last few months on the back of expectations of a continuation of production cut by OPEC and non-OPEC countries. They agreement was extended to the end of 2018 last week.

Is it a case of buy the rumor, sell the fact? Looks that way today. Support in Crude oil comes in at around $55.00 to $55.24.