LONDON, Oct 18 (Reuters) – Oil prices were stable on Tuesday as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand.
Brent crude futures eased by 7 cents, or 0.08%, to $91.55 a barrel by 1127 GMT while U.S. West Texas Intermediate (WTI) crude futures were down 12 cents, or 0.14%, at $85.34.
WTI had risen earlier by more than $1 a barrel on a weaker dollar, which makes oil cheaper for buyers holding other currencies.
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But the U.S. dollar index measuring the greenback against six peers rose later in the session, weighing on oil prices in European trading.
Also in focus was the Bank of England’s plan to start selling the vast government bond holdings it amassed during the coronavirus crisis. That sent long-dated yields higher , indicating increased risks to financial stability.
Meanwhile, China’s fuel demand outlook…
