Singapore — Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by producer cartel Opec still meant markets were relatively tight. International Brent crude oil futures were at $66.08 a barrel at 2.20am GMT, down 42c, or 0.6% from their last close, but still not far off the 2019 high of $66.83 a barrel hit in the previous session. US West Texas Intermediate (WTI) crude futures were at $55.71 a barrel. While that was up 12c from their last settlement, it was below the $56.33 2019 high from the previous day. Traders said the slight downward correction was driven by concerns about the health of the global economy in 2019. Bank of America Merrill Lynch said in a note that the China-US trade dispute was hurting economic growth globally. “Addressing global trade tensions is key for improving the economic outlook,” it said in a note. China’s vice-premier and chief trade negotiator, Liu He, and...
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