Oil prices fell on Tuesday, August 22, as the market awaited to see if Iraqi exports through the Turkish port of Ceyhan will resume, which may ease the supply scarcity caused by the OPEC+ alliance cuts, while the struggling Chinese economy continues to cast a shadow over the outlook for global demand.
Brent crude fell 8 cents to $84.38 a barrel, and U.S. West Texas Intermediate crude fell 7 cents to $80.65 a barrel.
Meanwhile, pessimism about the economic outlook in China, the world's second-largest oil consumer, has pressured prices and raised concerns about fuel demand.
Source (CNBC Arabic Website, Edited)
