WTI Drops As Demand Fears Take Over Markets ...Middle East

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WTI Drops As Demand Fears Take Over Markets
WTI crude prices slid on Tuesday morning to just above $70 per barrel—an important psychological threshold for the U.S. crude oil benchmark. WTI was trading at $70.16 per barrel at 11:34 a.m. ET, a $1.62 (2.26%) drop on the day, as renewed fears of immediate lackluster global demand pervaded the oil markets. The Brent crude oil benchmark also was trading down on Tuesday—by 1.47%, to below $75 per barrel at $74.99. The catalysts behind the moves are generally demand-based. In a show of no confidence in its economy, China slashed its…

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