Oil Prices Fall Amid Concerns About Weak Chinese Demand

  • International
  • 7 November 2023
1

Oil prices fell on Tuesday, giving up most of the previous day's gains, on concerns about weak demand in China, as investors focused on trade data due later to gauge demand from the world's second-largest oil consumer.

Brent crude futures fell 23 cents, or 0.3 percent, to $84.95 a barrel, while U.S. West Texas Intermediate crude fell 23 cents, or 0.3 percent, to $80.59 a barrel.

Benchmark crude rose about 30 cents on Monday after Saudi Arabia and Russia, the world's top oil exporters, confirmed their commitment to additional voluntary cuts in oil supplies until the end of the year.

Source (Al-Arabiya.net Website, Edited)

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