Oil Slips After Bearish US Economic Data

Oil Slips After Bearish US Economic Data
Crude oil storage tanks in an aerial photograph at the Cushing oil hub in Cushing, Okla., on April 21, 2020. Drone Base/Reuters
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LONDON—Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week.

Brent crude was down 80 cents, or 0.9 percent, to $93.20 a barrel at 1254 GMT, while WTI crude fell 77 cents, or 0.9 percent, to $87.01 a barrel.