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Wednesday, 24 August 2016

Oil prices fall on US crude stocks build; fears over China demand | GulfNews.com

Oil prices fall on US crude stocks build; fears over China demand | GulfNews.com:

"Oil prices fell on Wednesday as an unexpected build in U.S. crude inventories weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry.
International Brent crude oil futures LCOc1 were trading at $49.32 a barrel at 0614 GMT, down 64 cents, or 1.3 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude was down 72 cents, or 1.5 percent, at $47.38 a barrel.
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