5/30, 8:14 AM (Source: TeleTrader)
more TeleTrader news

Crude prices fall as woes over debt ceiling linger

Crude prices for front-month contracts declined on Tuesday as the uncertainty over the United States debt ceiling persisted, with the deal headed for a vote by Congress this week, just days before the Treasury is expected to run out of funds and default on its obligations.

The downward pressure on the prices was seemingly influenced by the upcoming OPEC+ meeting, which is scheduled to take place on June 4.

For July deliveries, West Texas Intermediate (WTI) lost 1.07% to $72.20 per barrel at 2:02 am ET, while Brent was down 0.87% to sell at $76.40 per barrel.

Baha Breaking News (BBN) / AB