11/7/2023, 9:38 AM (Source: TeleTrader)
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WTI lowest since late August following Chinese data

The prices of oil futures tumbled on Tuesday, with West Texas Intermediate (WTI) hitting its lowest value since late August and Brent falling to its lowest point since early October.

Worries on the demand side might have been spurred by the discouraging data coming from one of the world's largest crude importers, China. The country's trade surplus shrunk to $56.53 billion in October, to stand at a 17-month low.

WTI for deliveries in December slid 1.50% at 3:27 am ET and went for $79.61 per barrel. A minute later, Brent for January 2024 settlements plunged 1.54% to sell for $83.85 per barrel.

Baha Breaking News (BBN) / AY