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Brent Flirts With $60 as Oversupply Fears Deepen
Oil prices continued to inch lower in early Tuesday trading as concerns about oversupply and sagging demand resumed their grip on the market, even as trade-talks between the United States and China offered a glimmer of optimism. At the time of writing, WTI was down 0.52% at $57.22, while Brent had fallen 0.54% to $60.61. Weakness in the oil market is anchored by growing evidence that the global supply-demand balance is shifting toward a surplus. The International Energy Agency recently flagged the potential for a crude oil surplus of nearly 4 million…