Oil Market Update : Epic Research Singapore

Oil prices settled at their lowest level in more than a week on Tuesday, as hope for a coordinated output freeze among major crude producing nations continued to fade.

April West Texas Intermediate crude CLJ6, +1.60%  dropped 84 cents, or 2.3%, to settle at $36.34 a barrel on the New York Mercantile Exchange. It saw its lowest settlement since March 4, after losing 3.4% on Monday. May Brent crude LCOK6, +1.32% on London’s ICE Futures exchange fell 79 cents, or 2%, to $38.74 a barrel.

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