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Oil edges down amid cautious demand outlook

Posted on AllSides June 18th, 2024
From The Center
REUTERS/Bing Guan/File Photo

Oil prices edged down in Asian trade on Tuesday, after posting gains in the previous session, as markets remained cautious about global demand growth prospects amid expectations of stronger supplies.

Global benchmark Brent crude futures slipped 12 cents, or 0.14%, to $84.13 per barrel at 0615 GMT. U.S. West Texas Intermediate crude futures fell 14 cents, or 0.17%, to $80.19 a barrel.

Both benchmarks gained around 2% on Monday, closing at their highest since April.

"The oil market shifted its focus back to fundamentals, which have been soft for some...

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