US crude fell by 50¢ to $93.29 a barrel today after credit ratings agency Moody assigned a negative outlook to the US, which may lead to decreased demand in the nation.
Brent crude lost 51¢, falling to $115.87, as worries over the European debt crisis also continues, reports Reuters.
Confirmation of a US debt deal by US president Barack Obama on Tuesday did little to relieve global markets.
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