Oil prices slip as US economic data weakens demand outlook

Brent crude futures settled at $58.89 a barrel, a 36-cent loss, while U.S. West Texas Intermediate crude settled at $53.62 a barrel, down 45 cents.

NEW YORK: Oil futures sank on Tuesday as weak U.S. economic data dimmed crude's demand outlook and pressured prices, while reports of a third-quarter decline in output from the world's largest oil producers kept oil from falling further.

Brent crude futures settled at $58.89 a barrel, a 36-cent loss, while U.S. West Texas Intermediate crude settled at $53.62 a barrel, down 45 cents.