NEW YORK: Oil prices fell more than US$1 a barrel on Wednesday in another seesaw trading session, as investors feared what this week's collapse in OPEC+ talks meant for worldwide production.
Crude markets have been volatile over the last two days following the breakdown of discussions between major oil producers Saudi Arabia and United Arab Emirates.
Brent crude settled at US$73.43 a barrel, falling $1.10, or 1.5%. U.S. West Texas Intermediate settled at $72.20 a barrel, shedding $1.17 or 1.6%. Both benchmarks rallied more than $1 a barrel earlier in the session, similar to Tuesday's action.
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