Mubasher: Oil prices continued their decline on Tuesday amid growing concerns about weak Chinese demand.
Brent fell 2.2% to $30.61 a barrel, its lowest in 12 years. Meanwhile, US crude dropped almost 1.45% to $30.95 a barrel, the lowest since December 2003.
Oil prices have plunged more than 18% since the beginning of 2016.
On the other hand, global stock markets staged a comeback. US stocks closed Tuesday in green, with Dow Jones Industrial Average rising 0.72% to 16,516.22 points.
European stocks also closed Tuesday in the positive territory, boosted by positive data from retail firms and other companies.
