Oil prices drop on global demand outlook

NEW YORK, Nov. 14 (Xinhua) -- Oil prices declined on Tuesday after a report showing downward global demand raises concerns.

The West Texas Intermediate for December delivery was down 1.06 U.S. dollars to settle at 55.70 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery lost 0.95 dollar to close at 62.21 dollars a barrel on the London ICE Futures Exchange. Enditem