Brent futures delivery fell US$1.15, or 1.4%, to settle at US$78.63. US West Texas Intermediate (WTI) crude fell US$1.08, or 1.4%, to US$74.73.
NEW YORK: Oil prices slid about 1% to settle at a seven-week low on Tuesday as investors worried that demand from China could be weakening while Opec+ seems likely to stick to plans to increase supplies.
Market participants have been talking for days about a possible ceasefire deal in Gaza that could reduce the geopolitical risk premium for crude prices.
