Baghdad -Oil prices fell 2% upon settlement to their lowest levels in more than three months due to concerns related to the decline in the demand in the United States and China.

According to the media, Brent crude futures fell $2.07, or 2.5 %, to $79.54 per barrel upon settlement, while US crude futures fell $2.04, or 2.6 %, to $75.33 per barrel, and both fell to the lowest level since Mid July.

Market sources said: “US crude oil inventories rose by about 12 million barrels last week, which also increases pressure on prices.”

Source: National Iraqi News Agency