10/3, 8:18 AM (Source: TeleTrader)
more TeleTrader news

Oil declines on concerns about economy

Prices of oil futures decreased on Tuesday after several United States officials said they expect the federal funds rate to remain elevated for longer, which could result in negative consequences for the largest economy in the world.

In addition, Turkey announced oil transport will resume through the pipeline linking the country with Iraq.

West Texas Intermediate (WTI) for settlements in November was down 0.93% to $88.06 per barrel and Brent for deliveries in December declined 1.08% to $89.70 per barrel at 2:06 am ET.

Baha Breaking News (BBN) / MS