Oil Falls Below $84 a Barrel
Oil fell to a two-week low near $83 a barrel in early trading Tuesday as investors speculated that signs of a weakening U.S. economy and higher crude stockpiles showed fuel demand will slip, Bloomberg reported.
Futures slid by as much as $3.25 to $83.20 a barrel in pre-market New York Mercantile Exchange trading, Bloomberg said. Oil last closed below $83 a barrel on Aug. 19.
The Department of Energy will release its weekly survey of diesel and gasoline pump prices Tuesday afternoon in Washington, a day later than usual because of the Labor Day holiday Monday.
