Oil prices ease as market awaits China data to gauge demand
Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world’s second-largest oil consumer.
Brent crude futures fell 23 cents, or 0.3%, to $84.95 a barrel by 0127 GMT while U.S. West Texas Intermediate crude was at $80.59 a barrel, down 23 cents, or 0.3%.
Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
