Oil dampened on fear of reduced Asia demand

Saudi Arabia opts to let crude fall by at least USD 1 for Asian buyers, prompting fear of lower demand in the region and putting a damper on market prices.

Photo: Jacob Ehrbahn

Oil market developments are a mixed bag Tuesday morning as fear of reduced demand weighs heavily, Reuters reports.

A barrel of European reference crude Brent costs USD 72.55 against USD 72.4 Monday afternoon, with US West Texas Intermediate concurrently trading at USD 69.15 against USD 69.13.

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