Crude plunges amid Nagorno-Karabakh crisis

Tuesday, 29. September 2020 18:08

Oil prices plummeted on Tuesday as the crisis in the disputed Nagorno-Karabakh region in the Caucasus worsened. Armenia blasted Turkey over the alleged meddling on behalf of Azerbaijan and blamed Ankara for shooting down Yerevan's fighter jet.

In other news, Kuwait's Emir, Sheikh Sabah al-Ahmed al-Sabah passed away today, with state media reporting that the rule of the country will go to his half-brother, Sheikh Nawaf al-Ahmed.

Brent for November settlements dived 3.98% to $40.81 per barrel at 11:56 pm ET, while West Texas Intermediate crude for November delivery tumbled 4.31% to go for $38.83 a barrel at the same time.

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