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Oil Falls by More Than $1 Per Barrel as Demand Fears Linger

Started by Epoch-Times-Bot, Oct 25, 2022, 07:15 AM

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Epoch-Times-Bot

Oct 25, 2022, 07:15 AM
Oil Falls by More Than $1 Per Barrel as Demand Fears Linger

LONDON—Oil prices fell by more than $1 per barrel on Tuesday as bearish economic data from key global economies heightened demand fears.
International benchmark Brent crude futures fell by $1.30 to $91.96 per barrel by 1117 GMT, after easing 0.3 percent in the previous session.
U.S. West Texas Intermediate crude futures for December delivery fell by $1.24 to $83.34 per barrel, after a previous decline of 0.6 percent.
Supply and demand fundamentals remain largely stable, leaving economic sentiment center-stage for the oil market, said Vandana Hari, founder of oil market analysis provider Vanda Insights.
“Much of the souring outlook on demand has already been baked in, so any further downward pressure may be slow-acting,” she said....

Source: Oil Falls by More Than $1 Per Barrel as Demand Fears Linger

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