Oil falls to near 5-month low on Opec+ cut doubts

Brent crude oil futures fell 83 cents, or 1.1%, to settle at US$77.20 a barrel, while US West Texas Intermediate crude (WTI) ended 72 cents, or 1.0%, lower at US$72.32.

NEW YORK: Oil prices fell to a near five-month low on Tuesday on a stronger US dollar and demand concerns, putting the market down for a fourth day in a row on doubts over Opec+ announced voluntary supply cuts last week.

"The Opec+ deal did little to support prices and given the (four) days of declines that followed it, traders are clearly very unimpressed," said Craig Erlam, senior market analyst UK & EMEA, at data and analytics firm OANDA.