Oil Prices Fall to Lowest Level in More Than Three Months

Doha: Oil prices fell more than 5 percent at settlement on Tuesday, hitting their lowest level in over three months. Brent crude futures dropped $4.21, or 5.1 percent, to $78.96 a barrel at settlement. US West Texas Intermediate (WTI) crude fell $4.70, or 5.8 percent, to $76.05 a barrel. According to Qatar News Agency, Brent contracts recorded their lowest close since March 2, while US crude prices settled at their weakest level since March 4.