WTI falls to $102 as crude prices fall for second day

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Crude oil prices dipped over one percent for the second straight day on Tuesday over demand concerns.

As of 1310 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $1.28 (-1.21 percent) to reach 104.66 a barrel. The West Texas Intermediate (WTI), the main oil benchmark for North America, decreased to $102.02 a barrel, down by $1.07 (-1.04 percent). Both contracts notched a gain of around five percent during the last week and over 35 percent so far this year.

The price for Opec basket was recorded at $112.48 a barrel with a loss of 1.65 percent.—TLTP

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