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Inflation fright: Oil prices slump more than 1% amid global market sell-off

The largest US refinery, Motiva Enterprises' 603,000 bpd Port Arthur facility in Texas, began a planned one-month overhaul on Monday of its key crude oil processing unit.

Reuters  |  SINGAPORE 

Oil prices fell by more than 1 per cent on Tuesday, extending falls from the previous session, as global financial markets headed south in the wake of Wall Street's biggest one-day decline since 2011. Brent crude oil futures were at $66.88 per barrel at 0236 GMT, down 74 cents, or 1.1 per cent, from the previous close and more than $4 below their high point for 2018, hit last month. US West Texas Intermediate (WTI) crude futures were at $63.31 a barrel. That was down 84 cents, or 1.3 percent, from their last settlement, and more than $3 off their 2018 high. Financial ...

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First Published: Tue, February 06 2018. 10:17 IST