Oil Prices Fall More Than $1 USD a Barrel

By News Desk on October 8, 2024

Singapore: Oil prices fell more than $1 a barrel today as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month on fears the Middle East could be on the brink of a region-wide war. Brent crude futures fell $1.31, or 1.6%, to $79.62 per barrel.

US West Texas Intermediate futures fell $1.29, or 1.7%, to $75.85 a barrel. The American Petroleum Institute is due to post its tally of US stockpiles later today, followed by the official tally from the Energy Information Administration tomorrow (Wednesday).

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