Oil struggles around $43.00/bbl ahead of supply data

Oil prices retreated on Tuesday and hit 6-week lows as concerns over a supply glut linger as investors turn their focus to stockpiles data.

West Texas Intermediate oil for October delivery dropped 0.59% to $43.13 a barrel on the New York Mercantile Exchange. WTI hit a low of $42.55 a barrel, last seen Aug 11.

The American Petroleum Institute is due to release its weekly report at 20:30 GMT later on Tuesday, while official data from the Energy Information Administration will be released Wednesday, with analysts expecting a rise of 2.3 million barrels in crude stocks.