Oil Falls as China Demand Concerns Fuel Recession Fears

[Epoch-Times-Bot]

Oil Falls as China Demand Concerns Fuel Recession Fears

LONDON—Oil prices fell on Monday, ending five straight days of gains, as investors looked to slowing economic activity in China, the world’s biggest crude importer, which revived concerns about a global recession and falling global fuel demand.
Brent crude futures for December settlement fell by as much as 1.1 percent, and was last down 77 cents, or 0.8 percent, at $97.15 a barrel by 0645 GMT.
West Texas Intermediate crude for November delivery declined by as much as 1.1 percent and was last at $92 a barrel, down 64 cents, or 0.7 percent.
Services activity in China during September contracted for the first time in four months as COVID-19 restrictions hit demand and business confidence, data showed on Saturday....

Source: Oil Falls as China Demand Concerns Fuel Recession Fears

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