Oil Futures Settle At Lowest Finish In More Than a Month

By Myra P. Saefong Markets MarketWatch Pulse

Oil futures fell sharply for a second straight session Tuesday, with prices logging their lowest settlement in over a month, pressured by growing concerns over the potential for rising global crude output despite the recent pact among major producers to cut production. February West Texas Intermediate crude fell $1.14, or 2.2%, to settle at $50.82 a barrel--the lowest finish since Dec. 7, according to FactSet data.

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