Oil prices fell around 2 percent on Tuesday as investors fretted about a weakening demand outlook.
Benchmark Brent crude futures fell 1.7 percent to $91.59 a barrel while WTI crude futures were down 2.1 percent at $84.09.
OPEC on Monday cut its forecast for global oil demand growth this year by 100,000 barrels a day to 2.55 million barrels per day, citing mounting economic challenges including high inflation and rising interest rates.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.