Comex Market Update : Epic Research Malaysia

The collapse in crude-oil prices continued Tuesday, with the U.S. benchmark hitting its lowest level since June 2012. The sharp slide occurred after the International Energy Agency cut its forecast for oil demand growth to its weakest in five years.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX4, +0.37% fell $3.90, or 4.6%, to settle at $81.84 a barrel.

That was oil’s lowest settlement since June 28, 2012. It was also the largest one-day percentage and dollar decline since November 2012.

November Brent crude LCOX4, +0.42% the global benchmark, dropped $3.85, or 4.3%, to end at $85.04 a barrel on London’s ICE Futures exchange. That was Brent’s lowest settlement since November 2010.

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