Oil Prices Fall on Chinese Data Stoking Demand Concerns

  • International
  • 9 August 2023
1

Oil prices fell in early trade on Wednesday as concerns about slowing demand from China, the largest crude importer, increased after negative trade data, overshadowing concerns about shrinking global supply amid production cuts from Saudi Arabia and Russia.

Brent crude futures fell 17 cents, or 0.2 percent, to $86 a barrel. U.S. West Texas Intermediate crude was at $82.73 a barrel, down 19 cents, or 0.2 percent.

Source (Al-Arabiya.net Website, Edited)

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