LONDON—Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected while demand was seen rising this year, clouding the outlook for the world’s largest crude importer.
Brent crude was up 47 cents or 0.6 percent at $76.56 a barrel at 0850 GMT. U.S. West Texas Intermediate (WTI) crude for July was down 13 cents from Friday’s close at $71.65. The July contract expires at the end of trade on Tuesday.
The more active WTI crude contract for August delivery was down 18 cents from Friday at $71.75 per barrel. There was no settlement in the WTI contract on Monday due to a public holiday in the United States….