Oil keeps declining, WTI plunges by almost 4.5%

The prices of oil futures continued to sink on Tuesday, with West Texas Intermediate (WTI) decreasing by almost 4.5% amid continued fears demand will go down as China, a large energy market, reported a drop in trade surplus.

WTI for December's settlements nosedived by 4.32% at 2:40 pm ET to sell for $77.44 per barrel. At the same time, Brent for January's deliveries plummeted by 4.18% to go for $81.67 per barrel.