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Oil falls 3 percent in early transactions on expectations of decline global demand

[15/10/2024 12:00]

SINGAPORE-SABA
Oil prices fell three percent in early trading today, Tuesday, after the Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth in 2024 and 2025.

Brent crude futures fell $2.27 to $75.19 a barrel.

U.S. West Texas Intermediate crude futures fell $2.22 to $71.60 a barrel by 0127 GMT.

The two benchmarks fell three percent in early trading on Tuesday after falling two percent on Monday.