Reuters reported that conflict in the Middle East has still not brought about a rise in oil prices, in part because worries about slowing worldwide economic growth and the ongoing Eurozone crisis still abound.
As quoted in the market news:
Brent December crude fell $1.55 to $107.89 a barrel by 2:05 p.m. EDT (1805 GMT).
Brent fell to $107.31 during Tuesday’s session, the lowest level since September 20 and below the 100-day moving average of $107.42.
U.S. December crude was down $2.43 at $86.22 a barrel, having fallen to $85.69, the lowest since mid-July.