Oil settles lower on signs of easing supply tightness

Brent crude futures settled 17 cents lower at US$83.16 a barrel, and US West Texas Intermediate crude futures closed 10 cents lower at US$78.38.

NEW YORK: Oil prices closed slightly lower on Tuesday on signs of easing supply concerns, while market participants shifted their focus to US stockpiles data due later today and Wednesday.

Brent crude futures settled 17 cents lower at US$83.16 a barrel, and US West Texas Intermediate crude futures closed 10 cents lower at US$78.38.