Inflation fright: Oil prices slump more than 1% amid global market sell-off

Oil prices fell by more than 1 per cent on Tuesday, extending falls from the previous session, as global financial markets headed south in the wake of Wall Street's biggest one-day decline since 2011. Brent crude oil futures were at $66.88 per barrel at 0236 GMT, down 74 cents, or 1.1 per cent, from the previous close and more than $4 below their high point for 2018, hit last month.

US West Texas Intermediate (WTI) crude futures were at $63.31 a barrel. That was down 84 cents, or 1.3 percent, from their last settlement, and.

This article is no longer available in our repository.

There could be multiple reasons for this.