Slowing Demand in China Sends Crude Prices Lower Tuesday

U.S. crude prices slipped below $36 a barrel on Tuesday as worries about slowing demand trumped rising Middle East tensions. February West Texas Intermediate crude shed 79 cents to settle at $35.97 a barrel on the New York Mercantile Exchange. On the London ICE Futures Exchange, February Brent crude fell 80 cents to end trade at $36.42 a barrel.

China reported its manufacturing slowed last month. Fears of falling energy demand overshadowed any fears of supply disruptions due to the diplomatic face-off between Saudi Arabia and Iran.

February natural gas lost nearly a penny on Tuesday. The New York Mercantile Exchange contract settled at $2.325 per million British thermal units.


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