Oil Prices Fall Amid Global Stocks Sell-off:
Oil prices traded lower on Thursday amid sharp selloffs in global stock markets.
Crude Oil WTI Futures for December delivery lost0.7% to $66.38 per barrel by 1:38 AM ET (05:38 GMT) on the New York Mercantile Exchange. Brent Oil Futures for December delivery traded 0.7% lower to $75.72 a barrel on London’s Intercontinental Exchange.
“Oil prices fell under extreme selling pressure … as the steep selloff across stock markets fueled fears over a possible drop in oil demand growth,” said Lukman Otunuga, analyst at futures brokerage FXTM.
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