Oil prices decline as demand fears linger

16 October 2019 17:20 (UTC+04:00)

By Trend

Oil prices declined on Tuesday as the market continued to be concerned about weak global demand, Trend reports citing Xinhua.

Analysts said investors were worried that trade uncertainties among world's major economies will lead to global economic downturn and dampen oil demand.

The West Texas Intermediate (WTI) for November delivery declined 0.78 U.S. dollar to settle at 52.81 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery erased 0.61 dollar to close at 58.74 dollars a barrel on the London ICE Futures Exchange.

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