17-05-2016 14:29 via uk.news.yahoo.com

Oil eases below $49 after reaching six-month high

By Alex Lawler LONDON (Reuters) - Oil slipped from a six-month high to trade below $49 per barrel on Tuesday after a deal between Libyan factions brought higher output a step closer, although outages in Nigeria and Canada lent support. Most of the OPEC member's output is offline because of conflict. Profit-taking by some investors could be prompting some weakness in prices on Tuesday, but further price gains are likely given the supply losses, Commerzbank said.
Read more »