Oil Prices Fall On Pipeline Restart, Uncertainty Over OPEC Output Cuts


Oil Prices Fall On Pipeline Restart, Uncertainty Over OPEC Output Cuts

Oil prices slipped in Asian trade on Tuesday amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts.

Brent futures had fallen to $63.72 a barrel by 0753 GMT, down 12 cents, or 0.2 percent, from their previous close.

US West Texas Intermediate (WTI) futures were down 29 cents, or 0.5 percent, at $57.82 a barrel, after falling 1.4 percent in the last session.

US crude touched $59.05 a barrel on Friday, the highest level since mid-2015, fuelled by the outage of the Keystone pipeline, one of Canada`s main crude export routes to the United States. Read More…

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