Oil Market Update

Crude-oil prices finished Tuesday at their lowest in three years, struggling in the aftermath of Saudi Arabia’s decision to alter oil prices sold to U.S. and Asian buyers.

Crude futures for delivery in December CLZ4, -0.14%  fell $1.59, or 2%, to settle at $77. 19 a barrel on the New York Mercantile Exchange. 

December Brent crude LCOZ4, -0.42% settled at a four-year low. The December contract fell $1.96, or 2.3%, to end at $82.82 a barrel on London’s ICE Futures exchange.