Oil Falls As Traders Gear Up For Volatile 2019

Oil markets reversed early gains on Wednesday to fall on the back of surging US crude production and concerns of an economic slowdown in 2019.

International Brent crude futures were at $53.65 per barrel at 0218 GMT, down 15 cents, or 0.3 percent, from their final close of 2018.

West Texas Intermediate (WTI) spot crude oil futures were at $45.34 per barrel, down 7 cents, or 0.1 percent.

Traders said crude futures won an early boost from a rise in stock markets, but then began to fall as the market focus returned to expectations of oversupply amid surging US production and concerns about a global economic slowdown.

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