Oil slips as focus shifts from Saudi supply to global demand concerns - Reuters:
Oil prices eased on Tuesday as weak manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand and away from uncertainty around supply disruptions in Saudi Arabia.
Brent crude futures LCOc1 fell 40 cents to $64.37 a barrel by 0624 GMT, while U.S. West Texas Intermediate (WTI) futures CLc1 were at $58.31, down 33 cents.
“The demand side of the equation is back in focus,” said Michael McCarthy, senior market analyst at CMC Markets in Sydney, pointing to sluggish manufacturing numbers in leading economies in Europe as well as Japan.
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