Oil down 3 percent as Saudi Arabia eases concerns, Wall Street drops | Reuters:
Oil prices fell nearly 3 percent to more than one-month lows on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran and as U.S. equity markets sold off.
Brent crude futures LCOc1 dropped 2.8 percent, or $2.27, to $77.56 a barrel by 11:21 a.m. EDT (1521 GMT) after plunging to $77.50, the lowest since Sept. 18.
U.S. crude CLc1 fell $1.98, or 2.9 percent, to $67.38 a barrel, after hitting a session low of $67.26, the lowest level since Sept. 7
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