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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.