Ammon News - Oil prices fell on Tuesday, adding to the previous session's losses, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions.

Brent crude futures fell 35 cents, or 0.6%, to $60.21 a barrel by 0350 GMT, while U.S. West Texas Intermediate crude was trading at $56.52 a barrel, down 30 cents, or 0.5%.

"Crude oil fell as the market weighed up signs of optimism on a peace deal being reached between Russia and Ukraine," ANZ analysts said in a note.

China's factory output growth slowed to a 15-month low, official data showed. Retail sales also grew at their slowest pace since December 2022, during the COVID-19 pandemic.

Reuters