Oil falls on concerns of faltering economic growth to hit demand | Reuters
Oil prices edged down on Wednesday on concerns that oil demand growth will fall as major economies suffer through inflation and supply chain issues though surging prices for power generation fuel such as coal and natural gas limited losses.
Brent crude futures fell 5 cents, or 0.1%, to $83.37 a barrel at 0622 GMT, extending a 23-cent loss on Tuesday.
U.S. West Texas Intermediate (WTI) crude futures fell 6 cents to $80.58 a barrel after gaining 12 cents on Tuesday.
Both contracts pared losses after falling as much as 70 cents earlier when China, the world's biggest crude importer, released data showing September imports fell 15% from a year earlier.
No comments:
Post a Comment