Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing's promises of stimulus.

ATLANTA/ SAN FRANCISCO (Reuters) -U.S. central bankers broadly back two more big interest rate hikes in June and July, but what happens after is a matter of intense internal debate that turns in large part on differing views of how price pressures will play out in months ahead.

Toyota Motor Corp will cut its global production plan by about 100,000 to roughly 850,000 in June due to the semiconductor shortage, it said on Tuesday.

(Reuters) -Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off.

South Korea's central bank is likely to hike its benchmark rate at a second consecutive meeting on Thursday to combat inflation running at more than double its target, taking rates higher by year end than previously thought, a Reuters poll showed.