Oil falls
 

Reuters

Singapore

Oil prices fell on Thursday as the prospects for supply improved while the eco**mic outlook darkened, but analysts said they still expect prices to rise in the second half of the year.

Brent crude futures LCOc1 were trading at $50.19 per barrel at 0655 GMT, down 42 cents, or 0.83 percent, from their last settlement. U.S. crude CLc1 was down 37 cents, or 0.74 percent, at $49.51 a barrel.

The lower prices were a result of a higher supply outlook as well as concern over a slowing eco**my, compounded by Britain's vote to leave the European Union.

"With a ceasefire in Nigeria and Canadian wildfires (receding) oil prices may come under pressure," ANZ bank said. "The vote to exit adds further to uncertainty in the global eco**my."

In Asia's **.2 eco**my, Japan, industrial output slid in May at the fastest rate in three months to its lowest level since June 2013, in the latest sign that Asian growth is stalling.

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