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8/1, 11:57 AM (Source: TeleTrader)
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Oil down on global economic worries

Prices of oil futures declined on Monday following reports on the manufacturing sector from several major global economies. According to data, most countries either suffered a contraction, or a significant slowdown in manufacturing activity, which could have dimmed near-term economic prospects and negatively affected oil demand.

West Texas Intermediate (WTI) for settlements in September fell by 1.92% to sell for $96.73 per barrel at 5:48 am ET, while Brent for deliveries in October lost 1.19%, going for $102.74 per barrel at 5:47 am ET.

Baha Breaking News (BBN) / MS