Oil prices fall on uncertain economic outlook – The National

Oil prices fall on uncertain economic outlook – The National

Oil prices fell in evening trading on Tuesday amid growing concern about the global economic outlook.

Brent, the benchmark for two thirds of the world’s oil, was trading 1.14 per cent lower at $81.79 a barrel at 5.19pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was down 1.12 per cent at $77.88 a barrel.

On Monday, Brent settled 1.31 per cent higher at $82.73 a barrel, while WTI was up 1.14 per cent at $78.76 a barrel.