Basra crudes hold steady amid fluctuating market

Shafaq News/ The prices of Basra's intermediate and heavy crude to Asian customers settled at $83.46 and $88.76 on Tuesday in a choppy trade that saw the global benchmarks fluctuating.

Oil prices fell by more than $1 per barrel on Tuesday as bearish economic data from key global economies heightened demand fears.

International benchmark Brent crude futures fell by $1.30 to $91.96 per barrel by 1117 GMT, after easing 0.3% in the previous session.

U.S. West Texas Intermediate crude futures for December delivery fell by $1.24 to $83.34 per barrel, after a previous decline of 0.6%.

Supply and demand fundamentals remain largely stable, leaving economic sentiment centre-stage for the oil market.

Signs of uncertain economic activity in the United States and China, the world's two biggest oil consumers, continued to weigh on prices on Tuesday.

Government data on Monday showed China's crude oil imports in September were 2% lower than a year earlier, continuing a trend of lower imports at the same time it reported slowing retail sales.