Oil edges lower in choppy trade as Opec+ delays meeting

Brent futures settled 49 cents lower to US$81.96 a barrel, while the US West Texas Intermediate crude settled 67 cents lower at US$77.10.

NEW YORK: Oil prices fell nearly 1% in a volatile session on Wednesday as Opec+ producers unexpectedly delayed a meeting on production cuts, raising questions about global crude supplies.

Brent futures settled 49 cents lower to US$81.96 a barrel, after falling more than 4% to a low of US$78.41 earlier in the session. US West Texas Intermediate crude settled 67 cents lower at US$77.10, after declining more than 5% to a session low of US$73.79 earlier in the day.