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(Reuters) - Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent crude futures fell 20 ce...
OIL prices tumbled by US$3 a barrel on Monday (Jun 3) to their lowest in nearly four months, as investors worried that a complicated Opec+ output decision could lead to higher supplies later in the year even though demand growth has been slow.
Oil prices fell on Tuesday, extending losses from the previous session amid concerns about possible oversupply in the market following the decision of the OPEC+ to gradually phase out voluntary production cuts from October.
Gasoline prices fell $0.06 per gallon over the last week, representing the biggest weekly drop of 2024.
US stocks bounced back from an early morning slump to close higher Tuesday as fresh data showed that job vacancies slipped in April to their lowest level since 2021.