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Oil settles 45-cent down on Tuesday

Oil settles 45-cent down on Tuesday

Mubasher: Oil futures went down at Tuesday’s settlement, marking first loss in five sessions.

October Nymex WTI went down by $0.45, or 0.8%, to close at $57.74 per barrel.

At the annual Asia Pacific Petroleum Conference, executives expected oil prices this year to fall under the pressure of uncertainties over the health of the global economy, the bitter trade war between the world’s top two economies and surging US crude production.