Oil eases as rising U.S. output puts pressure on prices | ZAWYA MENA Edition

Oil eases as rising U.S. output puts pressure on prices | ZAWYA MENA Edition:

"Oil fell on Tuesday as investors took profits after a brief uptick in prices, while U.S. data that showed crude output is growing faster than expected continued to put pressure on the market. Brent crude futures  were down 32 cents at $64.63 a barrel by 1246 GMT, off an earlier high of $65.25, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 17 cents at $61.53 a barrel. Both crude benchmarks dropped by around 1 percent on Monday after the U.S. Energy Information Administration said output from the shale basin would hit a new record high in April."



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