Oil falls to 6-mth low on economic data, awaits news of Iran nuclear deal | Reuters
Oil prices fell about 3% on Tuesday to their lowest since before Russia's invasion of Ukraine as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports.
Brent crude futures fell $2.76, or 2.9%, to settle at $92.34 a barrel. The contract hit a session low of $91.71 per barrel, the lowest since Feb. 18.
West Texas Intermediate crude (WTI) shed $2.88, or 3.2%, to settle at $86.53 a barrel. The benchmark fell to a session low of $85.73 per barrel, lowest since Jan. 26.
The contracts fell about 3% in their previous sessions.
The European Union is assessing Iran's response to what the bloc has called its "final" proposal to save a 2015 nuclear deal, and consulting with the United States, an EU spokesperson said on Tuesday. read more
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