5/10, 5:03 PM (Source: TeleTrader)
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Oil prices tumble, down almost 1.5%

The prices of oil futures continued to decline on Tuesday, after yesterday's losses. The pessimistic global economic outlook, as well as the ongoing COVID-19 situation in China, are seemingly still raising worries among investors.

The American Petroleum Institute (API) is scheduled to reveal its weekly report on crude oil inventories in the United States later during the day.

West Texas Intermediate (WTI) for deliveries in June fell by 1.40% at 10:52 am ET to sell for $101.84 per barrel. A minute later, Brent for settlements in July decreased 1.47% to go for $104.54 per barrel. On the other hand, UK natural gas futures for delivery in June skyrocketed 7.99% to 139,000 pence per therm at 4:54 pm CET.

Baha Breaking News (BBN) / AY