Oil prices eased in early Asian trade on Monday as economic concerns in China weighed on fuel demand outlook although Brent stayed perched above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts.
Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel by 0022 GMT while U.S. West Texas Intermediate crude was at $86.77 a barrel, down 74 cents, or 0.9%.
"The move was exacerbated by a stronger USD, which kept investor appetite low," they added, referring to the greenback which has risen for eight straight weeks. "Any sign of strong demand from oil market reports from IEA and OPEC will likely push oil prices higher," ANZ analysts said.Baker Hughes
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: