Oil eases as Iran, Libya output rises hit OPEC deal momentum

By Karolin Schaps LONDON (Reuters) - Oil prices eased on Tuesday on news that Iran and Libya have continued to increase production, overshadowing an OPEC agreement struck last week to freeze output levels in a bid to stem a two-year price rout. U.S. West Texas Intermediate (WTI) crude was down 24 cents at $48.57 a barrel. Add to these that the dollar is strengthening and you have a bearish cocktail," said Tamas Varga, analyst at PVM Oil Associates in London.