In London, ICE December Brent crude was down $US1.04 cents at $US58.71 a barrel, after dropping as low as $US58.48.
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Crude Prices Plunged
While OPEC member countries kept up the drum beat of compliance with their recent production
Crude oil prices tumbled to $59 per barrel Tuesday as traders squared books ahead of weekly government inventory data due out Wednesday that was expected to show another rise in crude supply.
December crude ended the open-outcry session down $US1.02 at $59.00 after trading as low as $US58.89 on the New York Mercantile Exchange.
In London, ICE December Brent crude was down $US1.04 cents at $US58.71 a barrel, after dropping as low as $US58.48.
On Monday Saudi Arabia's oil minister said OPEC would take more action in December, if the current imbalance in the market remains, helping crude rally to end 88 US cents stronger, after Friday's rise of more than $1.
In London, ICE December Brent crude was down $US1.04 cents at $US58.71 a barrel, after dropping as low as $US58.48.
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