[size=36]Low oil prices[/size]
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: Oil prices fell by more than $4 a barrel today, Tuesday, due to concerns about demand in China, the largest importer of crude in the world, and before Iran's response to a proposed nuclear agreement that may raise the country's oil exports.
Brent crude futures fell $4.75, or 4.84%, to $93.40 a barrel by 1201 GMT, after losing 1.5 percent on Friday.
US West Texas Intermediate crude fell $4.52, or 4.91%, to $87.57, after falling 2.4 percent in the previous session.
Government data showed that China's economy unexpectedly slowed in July, while refinery production fell to 12.53 million barrels per day, the lowest level since March 2020.
Oil prices fell at the beginning of the session due to the resumption of production in several US offshore platforms in the Gulf of Mexico after Brief break last week.
Oil prices rose more than 3% last week, after damage to a pipeline disrupted production at several offshore platforms in the Gulf of Mexico.
A Louisiana port official said producers moved to reactivate some stalled production after repairs were completed late Friday.