Global benchmark Brent crude was down $1.09 at $82.98 a barrel at 0910 GMT, while U.S. West Texas Intermediate crude for March was up 43 cents at $76.77
Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day’s gains, outweighing supply curbs.
Global benchmark Brent crude was down $1.09, or 1.3 per cent, at $82.98 a barrel at 0910 GMT. U.S. West Texas Intermediate crude for March, which expires on Tuesday, was up 43 cents at $76.77. The U.S. contract did not settle on Monday because of a public holiday in the United States. As a result, the weekly American Petroleum Institute report on U.S. inventories will be out on Wednesday, rather than Tuesday as normal.
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