COMMODITY
Crude oil futures end lower on Tuesday
Oct-17-2018

Crude oil prices edged lower on Tuesday, as traders waited to see if relations between the U.S. and Saudi Arabia sour further following the disappearance of a journalist in Turkey. Worsening tensions between the two nations could result in a curtailment of global crude production from one of the most significant members of the Organization of the Petroleum Exporting Countries. Meanwhile, investors shrugged off reports suggesting that Iranian crude exports have fallen further in the first two weeks of October. The sanctions on Iran's oil sector will go into effect on November 4.

Benchmark crude oil futures for November declined 14 cents or 0.2% to settle at $71.92 a barrel on the New York Mercantile Exchange. December Brent crude dropped 63 cents or 0.8 percent to settle at $81.41 a barrel on London’s Intercontinental Exchanged.


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