Oil price lower as halted Russian pipeline flows appear temporary, demand fears rise

Brent crude LCOc1 settled at $96.31 a barrel, losing 34 cents, or 0.4%. U.S. West Texas Intermediate (WTI) crude CLc1 settled at $90.50 a barrel, shedding 26 cents, or 0.3%. During the session, both benchmarks rose and fell by more than $1 a barrel.

NEW YORK: Oil prices settled slightly lower on Tuesday after a see-saw session as worries that a slowing economy could cut demand vied with news that some oil exports had been suspended on the Russia-to-Europe Druzhba pipeline that transits Ukraine.

Crude prices have been under pressure for weeks as fears mounted that a recession could cut oil demand.