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Oil eases; OPEC cites uncertain market outlook for 2018

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil fell on Tuesday, reversing earlier gains, although volatility subsided to its lowest in three weeks, as investors prepared for a key meeting of the OPEC producer group next week.The Organization of the Petroleum Exporting Countries released its monthly report on Tuesday, in which it cited the high degree of uncertainty hanging over the global oil market this year.Brent crude futures fell 35 cents to $76.11 a barrel by 1347 GMT, while U.S. West Texas Intermediate crude futures traded 13 cents lower at $66.23."The market has been rangebound for two weeks ...

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First Published: Tue, June 12 2018. 19:46 IST