Oil Market Update

Crude-oil futures settled sharply lower Tuesday as investors weighed a batch of downbeat views on global economic growth, including news that China’s economy expanded at its slowest pace in decades.

As well, natural gas prices came under pressure.

Crude futures for delivery in February CLG5, -5.26%  fell $2.30, or 4.7%, to end at $46.39 a barrel. Oil resumed its losing ways after finishing Friday with a weekly gain, snapping a seven-week streak of declines.

March Brent crude LCOH5, +0.85%  also succumbed to sellers, falling 85 cents, or 1.7%, to settle at $47.99 a barrel.