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 were down 11 cents or 0.2%, from the previous settlement, to $58.46 a barrel by 01:08 GMT.
U.S. West Texas Intermediate (WTI) futures were $54.81 per barrel, down 12 cents, or 0.2%, 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.
Source : Reuters