11/7/2023, 4:44 PM (Source: TeleTrader)
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Oil down by 3% on potential demand worries

The prices of oil futures continued to decline on Tuesday after West Texas Intermediate (WTI) previously dropped to its lowest level in a month in an apparent response to China reporting a decrease in trade surplus, potentially signaling a lack of demand.

WTI for deliveries in December nosedived by 3.02% at 10:32 am ET to sell for $78.39 per barrel. At the same time, Brent for settlements in January sank by 2.96% to go for $82.69 per barrel.

Baha Breaking News (BBN) / JR