Oil falls more than 1 percent as storm fears ease, demand concerns mount | Reuters

Oil falls more than 1 percent as storm fears ease, demand concerns mount | Reuters:

Oil prices fell more than one percent on Wednesday after a U.S. Gulf storm weakened and moved away from oil-producing areas and as concerns mounted about global trade disputes and Turkey’s currency crisis hurting demand. 

U.S. West Texas Intermediate (WTI) crude CLc1 futures fell $1.15 to settle at $68.72 a barrel, a 1.65 percent loss.

Brent crude LCOc1 futures fell 90 cents to settle at $77.27 a barrel, a 1.15 percent loss. The global benchmark had climbed in the previous session to $79.72 a barrel, its highest since May.