Oil prices fall as energy demand set to take a hit amid economic slowdown - Reuters

Oil prices fall as energy demand set to take a hit amid economic slowdown - Reuters:

Oil prices fell on Tuesday as an economic slowdown starts to dent energy demand, but markets won some support after Saudi Arabia said a consensus was emerging with other producers about extending supply cuts. 

Front-month Brent crude futures were at $60.97 at 0648 GMT. That was 31 cents, or 0.5%, below last session’s close.

U.S. West Texas Intermediate (WTI) crude futures were at $53.05 per barrel, down 20 cents, or 0.4%, from their last settlement.

Oil futures are around 20% below 2019 peaks reached in late April, with May posting the sharpest monthly declines since November.