Oil Prices Fall Amid Concerns about Demand in China

  • International
  • 25 July 2024
1

Oil prices fell on Thursday after concerns about weak demand in China, the world's largest crude importer and expectations of a close Middle East ceasefire erased gains in the previous session after falling U.S. inventories.

Brent crude futures for September delivery fell September 38 cents, or 0.5 percent, to $81.33 a barrel. U.S. West Texas Intermediate crude futures fell 33 cents, or 0.4 percent, to $77.26 a barrel.

Oil prices rose on Wednesday after the U.S. Energy Information Administration revealed U.S. crude inventories fell by 3.7 million barrels last week, versus analysts polled by Reuters expected a drop of just 1.6 million barrels.

Source (Al-Arabiya.net Website, Edited)

 

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