5/31, 12:09 PM (Source: TeleTrader)
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Oil continues falling, down over 1%

Crude oil prices kept their losing streak on Wednesday after plunging 4% on Tuesday, reaching its lowest point since May 4. Uncertainties persisted over the United States debt ceiling deal, with a vote in the House of Representatives likely to happen today. Meanwhile, China's manufacturing sector remained in contraction territory in May, indicating a slow demand recovery.

West Texas Intermediate (WTI) for settlements in July dropped 1.60% and went for $68.21 per barrel at 5:59 am ET. Brent for the same month's deliveries sank 1.73%, selling for $72.17 per barrel at the same time.

Baha Breaking News (BBN) / DJ