Oil prices edged lower on Tuesday, slipping off five-month highs after the International Monetary Fund cut its global economic growth forecasts and as Russia signaled it may retreat from its production-cutting deal with OPEC. A U.S. threat to slap tariffs on hundreds of European goods halted a rally in global equities, which also dragged on oil futures. Brent settled at $70.61 a barrel, falling 49 cents after hitting $71.34, its highest since November. U.S. crude settled at $63.98 a barrel, down 42 cents, after also reaching a five-month high of $64.79. “I think the IMF lowering global growth is really the biggest headwind today that oil futures are seeing,” said Phil Streible, senior commodities strategist at RJO Futures in Chicago. The International Monetary Fund (IMF) on Tuesday cut […]