West Texas Intermediate oil futures tumbled on Tuesday, after data
showed that China’s economy grew at the slowest pace in 24 years and
after the International Monetary Fund slashed its global growth outlook.
On the New York Mercantile Exchange, crude oil for delivery in March dropped $1.58, or 3.22%, to trade at $47.55 a barrel during European morning hours, after hitting a session low of $47.45.
A day earlier, New York-traded oil futures tumbled $1.27, or 2.58%, to settle at $47.86 a barrel. WTI prices touched $44.20 on January 13, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery declined 48 cents, or 0.99%, to trade at $48.36 a barrel.
On Monday, London-traded Brent prices fell $1.33, or 2.65%, to close at $48.84 a barrel. Brent hit $45.19 on January 13, the weakest level since April 2009.
Read more Click here / www.trade4x.net
On the New York Mercantile Exchange, crude oil for delivery in March dropped $1.58, or 3.22%, to trade at $47.55 a barrel during European morning hours, after hitting a session low of $47.45.
A day earlier, New York-traded oil futures tumbled $1.27, or 2.58%, to settle at $47.86 a barrel. WTI prices touched $44.20 on January 13, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery declined 48 cents, or 0.99%, to trade at $48.36 a barrel.
On Monday, London-traded Brent prices fell $1.33, or 2.65%, to close at $48.84 a barrel. Brent hit $45.19 on January 13, the weakest level since April 2009.
Read more Click here / www.trade4x.net
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