KONTAN.CO.ID - SINGAPORE. Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. The Brent crude oil futures contract for May delivery slipped 16 cents to $86.73 a barrel as at 0300 GMT, whereas that for U.S. West Texas Intermediate (WTI) fell 13 cents to $82.03. The WTI April contract, with expires tomorrow, fell 16 cents to $82.56. Both benchmarks reached four-month highs in the previous session, buoyed by lower crude exports from Saudi Arabia and Iraq and signs of stronger demand and economic growth in China and the U.S.
Oil Prices Edge Down as Russia Lifts Supplies, Jet Fuel Demand Stirs Caution
KONTAN.CO.ID - SINGAPORE. Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. The Brent crude oil futures contract for May delivery slipped 16 cents to $86.73 a barrel as at 0300 GMT, whereas that for U.S. West Texas Intermediate (WTI) fell 13 cents to $82.03. The WTI April contract, with expires tomorrow, fell 16 cents to $82.56. Both benchmarks reached four-month highs in the previous session, buoyed by lower crude exports from Saudi Arabia and Iraq and signs of stronger demand and economic growth in China and the U.S.