Oil futures declined on Tuesday, with U.S. prices posting a loss of nearly 11% for the month. For now, the risks tied to the conflict in the Middle East “appear contained,” said Michael Hewson, chief market analyst at CMC Markets UK.
“However, there remains a clear and present danger that the conflict might spread wider.” December West Texas Intermediate crude CLZ23, -1.36% fell $1.29, or 1.6%, to settle at $81.02 a barrel on the New York Mercantile Exchange. Prices for the front-month contract lost 10.8% for the month and settled at their lowest since Aug. 28, according to Dow Jones Market Data.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: