Oil prices slipped on Monday after OPEC+ surprised markets by hiking output more than expected in August, while uncertainty over U.S. tariffs and their potential impact on global economic growth weighed on demand expectations.

Growing supply from the OPEC+ group, although not as high as the monthly headline figures suggest, is set to create an oversupply on the market going into autumn, even if summer demand holds strong

Oil prices eased on Tuesday following a nearly 2% surge the previous day, as markets digested escalating U.S. tariff tensions and a surprise increase in August output by OPEC+. Brent crude futures slipped 21 cents