Oil fell on Tuesday, extending its loss from last week with U.S. prices marking the expiration of the March futures contracts. The rise in both the U.S. dollar and short-duration Treasury yields stoked concerns about the Federal Reserve crushing the economy with “too-aggressive policy decisions this year,” analysts at Sevens Report Research wrote in Tuesday’s newsletter. “From a demand standpoint, recessions are clearly not a positive situation for consumption of refined products,” they said. U.S. benchmark West Texas Intermediate crude for March delivery CLH23, -0.38%, which expired at the end of the trading session, fell 18 cents, or 0.2%, to settle at $76.16 a barrel on the New York Mercantile Exchange. The April WTI contract CLJ23, -0.59%, which is now the front-month futures contract, settled at $76.36, down 19 cents, or nearly 0.3%.
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