Oil tumbles 3 percent on economic concerns

Reuters reports that Oil slumped 3 percent on Tuesday to a two-week low.

The market news is quoted as saying:

U.S. crude for December delivery fell $2.52, or 2.97 percent, to settle at $82.34 a barrel. Total crude oil trading volume was above 800,000 lots, 18 percent above its 30-day average.

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