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8/31, 12:43 PM (Source: TeleTrader)
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Oil declines on China, Japan economic concerns

Prices of oil futures decreased on Tuesday after the latest economic data releases showed that China's manufacturing and Japan's industrial production and consumer confidence declined, seemingly affecting market sentiment. Oil market participants will monitor the 20th OPEC and non-OPEC Ministerial Meeting, set to take place via videoconference from 5 pm CET tomorrow.

Brent for October deliveries was down 0.61%, going for $72.96 per barrel at 6:30 am ET, while West Texas Intermediate (WTI) for settlements in the same month was 0.87% lower to sell for $69.61 per barrel a minute later.

Breaking the News / MS