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Oil falls 2% on oversupply fears, trade talk concerns


NEW YORK (Reuters) - Oil fell about 2% on Tuesday on concerns about excess global crude supply and limited progress toward resolving a U.S.-China trade dispute that has clouded the outlook for oil demand.

Brent crude LCOc1 futures fell $1.08, or 1.7%, to $61.36 a barrel by 11:13 a.m. EST (1613 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $1.32, or 2.3%, to $55.73 a barrel.

Brent has rallied about 15% this year, supported by a pact by the Organization of the Petroleum Exporting Countries and its allies ...


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