Oil prices drop ahead of U.S. inventory data

By Trend

Oil prices fell on Tuesday as market participants awaited data on U.S. fuel stockpiles, Trend reports citing Xinhua.

The West Texas Intermediate for December delivery lost 2.88 U.S. dollars, or 3.1 percent, to settle at 88.91 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery decreased 2.56 dollars, or 2.6 percent, to close at 95.36 dollars a barrel on the London ICE Futures Exchange.

Traders continued to assess the prospects for energy demand in the backdrop of major central banks' policy tightening.