Oil prices fall for third straight session amid supply glut worries


International Market, Dec. 18 (TNS): At the international market, crude oil prices dropped more than one dollar on Tuesday, falling for a third straight session. International benchmark crude oil futures were at 58.62 dollars per barrel on Tuesday, down 1.66 percent from their last close.

Traders say concerns over future oil demand amid weakening global economic growth and doubts over the effectiveness of planned production cuts led by the Organization of the Petroleum Exporting Countries also pressured oil prices.