Brent crude futures fell 93 cents, or 1.5%, to settle at US$62.39 a barrel. US West Texas Intermediate crude was down 1.3%, or 79 cents, at US$58.70.
HOUSTON: Oil prices fell on Tuesday, settling 1.5% lower as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the US and China, the world's two biggest economies.
Brent crude futures fell 93 cents, or 1.5%, to settle at US$62.39 a barrel. US West Texas Intermediate crude was down 1.3%, or 79 cents, at US$58.70. Both contracts were at a five-month low.
