Oil prices fall

Oil prices edged lower on Tuesday as rising Opec+ supply and worries of weaker global demand countered concern about US President Donald Trump’s threats to India over its Russian oil purchases. Brent crude futures were down 58 cents, or 0.84pc, to $68.18 a barrel at 12:17 p.m. EDT (1617 GMT), while US West Texas Intermediate crude slipped 59 cents, or 0.89pc, to $65.7. Both contracts fell by more than 1pc on Monday to settle at their lowest levels in a week. The Organization of the Petroleum Exporting Countries and its allies, together known as Opec+, agreed on Sunday to raise oil production by 547,000 barrels per day for September, a move that will end its most recent output cut earlier than planned.