7/2, 5:39 PM (Source: TeleTrader)
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Oil prices continue to slide, lose more than $2 pb

Prices of crude futures continued to slide during the Monday trading session, losing more than $2 in value after the United States markets opened.

Oil prices dropped to a one-week low despite earlier reports that the Organization of the Petroleum Exporting Countries (OPEC) agreed with other non-OPEC producers to extend the production cuts until March 2020.

International benchmark Brent for settlements in September slid 3.25% to go for $63.09 per barrel at 12:34 am ET, while the West Texas Intermediate (WTI) for September delivery lost 3.75% to sell for $57.02 per barrel at 17:24 am ET.

Breaking the News / MA