Oil prices slip as demand worries outweigh OPEC supply cuts

Oil prices slipped on Tuesday as worries that a weakening global economy would d...

SINGAPORE - Oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed OPEC’s decision to extend supply cuts until next March.

U.S. crude futures for August CLc1 had fallen 48 cents, or 0.8%, to $58.61 a barrel, after touching their highest in over five weeks on Monday. The U.S.-China trade conflict has pressured global markets, stoking worries about demand for commodities such as crude oil.

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