Crude oil prices fell on Tuesday

International benchmarks for crude oil prices fell on Tuesday (8 March) after the Chinese Custom Department released data showing the country's export in February sank 25.4% to the lowest level since May 2009. The report also indicated a 13.8% drop in import which raised the concern about the health of world's second largest economy. Analysts also expect the US Energy Department to release a report on the country's petroleum and petroleum products stockpile on Wednesday with another round of increase. Industry experts commented on the prospect of major oil producers entering an output deal saying that market needs "proof of concrete action" for a sustainable rise.

WTI closed at   $36.50/b (-$1.40)
Brent closed at $39.65/b (-$1.19)

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