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Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases

Started by Epoch-Times-Bot, Jan 04, 2023, 06:15 AM

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Epoch-Times-Bot

Jan 04, 2023, 06:15 AM
Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases

LONDON—Oil fell sharply on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID-19 cases.
Brent futures fell $1.88 to $80.22 a barrel, a 2.3 percent loss, by 1032 GMT. U.S. crude dropped $1.68, or 2.2 percent, to $75.25 per barrel.
Both benchmarks plunged more than 4 percent on Tuesday, with Brent suffering its biggest one-day loss in more than three months.
“Worries about the state of the global economy are front and center of traders' minds and will remain so for the foreseeable future,” PVM Oil analyst Stephen Brennock said....

Source: Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases

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