Oil prices sink as weak U.S. economic data dims demand outlook - Reuters

Oil prices sink as weak U.S. economic data dims demand outlook - Reuters:

Oil prices slipped on Tuesday, pressured as weak U.S. economic data dimmed crude’s demand outlook, while reports of an output decline from the world’s largest oil producers in the third quarter kept prices from falling further.

Brent crude futures LCOc1 lost 49 cents, or 0.8%, to $58.76 a barrel by 12:31 p.m. EDT (1631 GMT), while U.S. West Texas Intermediate crude CLc1 shed 67 cents, or 1.2%, to $53.40.

The daily slides followed a session in which both benchmarks posted their largest quarterly declines of the year.