Global oil prices continue to decline during morning trade

Oil prices for benchmark grades continued their downward trend during Tuesday morning trading sessions, Report informs citing trading data.

The cost of December futures for Brent crude on the London ICE Futures exchange stood at $74.57 per barrel, a drop of $2.89 (3.73%) compared to the closing price of the previous trading session.

Meanwhile, futures for WTI crude oil for November delivery on the New York Mercantile Exchange (NYMEX) electronic trading platform also experienced a notable decline. The price fell by $2.78 (3.77%), reaching $71.05 per barrel.