19-07-2016 02:30 via uk.news.yahoo.com

Oil prices fall on oversupply concerns despite shale cuts

By Keith Wallis SINGAPORE (Reuters) - Oil prices eased in early Asian trade on Tuesday as concerns over a crude and fuel oil glut outweighed an expected cut in U.S. shale production and a likely further draw in U.S. crude stocks. Crude prices fell more than 1 percent in the previous session after concerns about potential supply disruptions eased in the wake of Friday's attempted coup in Turkey. U.S. crude, known as West Texas Intermediate (WTI), slipped 13 cents to $45.11 a barrel as of 0021 GMT
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