Oil falls from five-month highs as Russia signals output increase - Reuters

Oil falls from five-month highs as Russia signals output increase - Reuters:

Oil prices fell on Tuesday, slipping from five-month highs as Russian comments indicating a possible easing from its production-cutting deal with OPEC overshadowed the prospect that violence in Libya could further tighten global markets.

A U.S. threat to slap tariffs on hundreds of European goods and a downgrade by the International Monetary Fund in its global economic growth forecasts took the steam out of the rally in global equities and also added to concerns that a slowdown this year will hit fuel consumption and prevent crude prices from rising even higher.

Supply curbs led by the Organization of the Petroleum Exporting Countries and allies like Russia have underpinned a more than 30 percent rally this year for Brent crude, despite downward pressure from fears of an economic slowdown and weaker demand.