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Crude Oil Markets Tank

by rigzone.com posted 3weeks ago 32 views
Crude oil futures plunged Tuesday, but natural gas regained some of its recent lost momentum. : The January West Texas Intermediate (WTI) crude oil price lost $3.64 Tuesday to settle at $46.24 a barrel. The WTI traded within a range from $45.79 to $49.59. Brent crude oil for February delivery also posted a sharp decline Tuesday, dropping $3.35 to end the day at $56.26 a barrel. “Crude oil markets tanked Tuesday as ongoing concerns about demand and data showing rising inventories pulled prices dramatically lower,” Jason Feer, global head of business intelligence with Poten & Partners, told Rigzone.