8/2, 10:41 AM (Source: TeleTrader)
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Oil decreases as demand fears persist

Prices of crude oil futures fell again on Tuesday, following yesterday's selloff that could have been sparked by a slowdown in manufacturing activity throughout the globe.

In addition to potential demand issues, oil supply could rise as Saudi Arabia is expected to press other members of the OPEC+ group to raise production at their meeting tomorrow, according to a Fox Business report.

West Texas Intermediate (WTI) for settlements in September decreased by 0.84% to sell for $93.10 per barrel at 4:27 am ET, while Brent for deliveries in October declined 1.01%, going for $99.19 per barrel a minute later.

Baha Breaking News (BBN) / MS