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Oil nudges higher, but ample global production weighs

Updated : January 29, 2019 08:02 AM IST

US West Texas Intermediate (WTI) crude futures were at $52.07 per barrel, up 8 cents from their last settlement. WTI futures closed down 3.2 percent on Monday when prices touched $51.33 a barrel - the lowest since January 17.
International Brent crude oil futures had yet to trade, after closing down 2.8 percent in the previous session when prices hit a low of $59.49 a barrel - the lowest since January 15.
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