Futures Movers: Oil prices slip, but hold near multimonth highs as OPEC supply appears in check

Oil prices eased back a bit on Tuesday, but held ground near multimonth highs with major global producers outside the U.S. expected to continue to keep a lid on output.

U.S.-traded prices on Monday scored their highest finish since November, as Organization of the Petroleum Exporting Countries and its allies looked set to continue their crude production cuts until June.

April West Texas Intermediate crude CLJ9, -0.46% fell by 11 cents, or 0.2%, to $58.98 a barrel. The contract settled at $59.09 Monday on the New York Mercantile Exchange — the highest finish since Nov. 12, according to Dow Jones Market Data.

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