KONTAN.CO.ID - LONDON. Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day's gains, outweighing supply curbs. The focus in the wider financial market is firmly on the release on Wednesday of the minutes of the U.S. Federal Reserve's latest meeting, after recent data raised the risk of interest rates remaining higher for longer. Global benchmark Brent crude was down $1.09, or 1.3%, at $82.98 a barrel at 0910 GMT. U.S. West Texas Intermediate crude for March, which expires on Tuesday, was up 43 cents at $76.77.
Brent Oil Falls on Fears of Global Economic Slowdown
KONTAN.CO.ID - LONDON. Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day's gains, outweighing supply curbs. The focus in the wider financial market is firmly on the release on Wednesday of the minutes of the U.S. Federal Reserve's latest meeting, after recent data raised the risk of interest rates remaining higher for longer. Global benchmark Brent crude was down $1.09, or 1.3%, at $82.98 a barrel at 0910 GMT. U.S. West Texas Intermediate crude for March, which expires on Tuesday, was up 43 cents at $76.77.