Oil prices edge down as traders weigh slowing demand against supply curbs
Brent crude futures LCOc1 were down 11 cents or 0.2 per cent, from the previous settlement.
By : DC Correspondent
Update: 2019-08-13 03:07 GMT
Singapore: Oil prices edged lower on Tuesday, offsetting narrow gains in the previous session, on the expectation major producers would continue to reduce global supplies due to a slowing economic growth outlook.
International benchmark Brent crude futures LCOc1 were down 11 cents or 0.2 per cent, from the previous settlement, to USD 58.46 a barrel by 0108 GMT.
US West Texas Intermediate (WTI) CLc1 futures were USD 54.81 per barrel, down 12 cents, or 0.2 per cent, from the last close.
Saudi Arabia, the de-facto Organization of the Petroleum Exporting Countries (OPEC) leader, opened its books as part of plans to launch what could be the world’s largest initial public offering.