Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country’s strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market.
Brent crude futures were trading down 43 cents, or 0.8 percent, at $53.44 per barrel at 0643 GMT.
U.S. West Texas Intermediate (WTI) futures were at $50.71, down 42 cents, or 0.8 percent.
