Oil prices fall more than half a per cent to a multi-week low

Oil prices today fell more than half a per cent to a multi-week low. The crude prices slipped amid the weakening global economy. However, the closure of a key pipeline supplying the United States and Russian threats of a production cut capped the fall. In intra-day trade, Brent crude was trading at 75 dollars and 45 cents per barrel while WTI crude prices were at 70 dollars and 40 cents per barrel.