Oil prices edge down as traders weigh slowing demand against supply curbs
Updated : August 13, 2019 07:59 AM IST
International benchmark Brent crude futures were down 11 cents or 0.2 percent, from the previous settlement to $58.46 a barrel by 0108 GMT.
US West Texas Intermediate (WTI) futures were $54.81 per barrel, down 12 cents, or 0.2 percent, from the last close.
The financials released by Saudi Aramco showed "capital spending had been curbed by 12 percent, maybe suggesting that supply growth is likely to remain tight," said ANZ bank in a note on Tuesday. "This is likely to take some focus away from the weakening outlook for demand."
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