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


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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