Oil prices fall ahead of US inflation data
Oil prices fell in early trading on Tuesday, amid cautious markets ahead of the release of US inflation data for April, which will play a role in the Federal Reserve's next decision on interest rates.
According to Bloomberg Economic News, Brent crude fell 31 cents, or 0.4 % , to $76.70, and West Texas Intermediate crude fell 23 cents, or 0.3 % , to $72.92.
Markets await US consumer price inflation figures for April, scheduled for Wednesday, in anticipation of any indication of the next rate decision.
A round of voluntary cuts announced by some members of the OPEC+ alliance, which will hold its next meeting on the fourth of next June.