Oil futures dropped on Tuesday as worries about a potential slowdown in energy demand linked to the U.K.’s move to exit the European Union and hints of a potential rise in U.S. production pulled prices to their lowest level in about a week. August WTI crude fell $2.39, or 4.9%, to settle at $46.60 a barrel on the New York Mercantile Exchange. That was the lowest settlement since June 27.
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