Oil fell on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more interest rate hikes, trumping support from OPEC+’s first output target cut since 2020. New COVID-19 lockdowns in China have added to worries that high inflation and rate hikes will hit demand. The European Central Bank is widely expected to lift rates sharply when it meets on Thursday. read more Brent crude was down $2.33, or 2.4%, to $93.41 at 0940 GMT. U.S. West Texas Intermediate (WTI) fell from Monday’s trading to $87.02, up 15 cents from Friday’s close. There was no settlement on Monday, the U.S. Labor Day holiday. “The OPEC+ news is now in the market and the […]