Oil prices declined during Tuesday’s trading amid market turmoil due to the negative reaction to the Chinese government’s economic stimulus measures, as investors await OPEC’s monthly report for more insights on global demand prospects.
Brent crude futures for January delivery fell by 0.28%, or 20 cents, to $71.63 per barrel as of 09:03 AM Mecca time.
Meanwhile, U.S. WTI crude futures for December delivery dropped by 0.35%, or 24 cents, to $67.80 per barrel.