Brent crude futures settled down US$3.21, or 4.14%, at US$74.25 a barrel. West Texas Intermediate futures finished down US$3.25, or 4.4%, at US$70.58 a barrel.
HOUSTON: Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of a supply disruption.
Brent crude futures settled down US$3.21, or 4.14%, at US$74.25 a barrel. West Texas Intermediate futures finished down US$3.25, or 4.4%, at US$70.58 a barrel.
