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Oil eases as rising U.S. output puts pressure on prices

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil fell on Tuesday as investors took profits after a brief uptick in prices, while U.S. data that showed crude output is growing faster than expected continued to put pressure on the market.Brent crude futures were down 32 cents at $64.63 a barrel by 1246 GMT, off an earlier high of $65.25, while U.S. West Texas Intermediate (WTI) crude futures were up 17 cents at $61.53 a barrel. Both crude benchmarks dropped by around 1 percent on Monday after the U.S. Energy Information Administration said output from the shale basin would hit a new record high in ...

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First Published: Tue, March 13 2018. 18:38 IST