The prices of oil futures tumbled over 2% on Tuesday as worries on the demand side offset supply concerns caused by the conflict in the Middle East.
The latest stimulus package released by China, one of the world's largest oil importers, seemingly failed to live up to expectations, with investors wondering whether the measures will be enough to revive Beijing's troubled economy.
West Texas Intermediate (WTI) for November deliveries plunged 2.19% to sell at $75.48 per barrel at 04:22 am ET. At the same time, Brent for December settlements dropped 2.10%, going for $79.24 a barrel.
