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Oil Falls on Easing Geopolitical Tensions, China Demand Worries

Started by Epoch-Times-Bot, Nov 17, 2022, 06:00 AM

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Epoch-Times-Bot

Nov 17, 2022, 06:00 AM
Oil Falls on Easing Geopolitical Tensions, China Demand Worries

LONDON—Oil extended declines on Thursday as concerns over geopolitical tensions eased and as rising numbers of COVID-19 cases in China added to demand worries in the world’s largest crude importer.
Poland and NATO said on Wednesday a missile that crashed inside NATO member Poland was probably a stray fired by Ukraine’s air defenses and not a Russian strike, easing fears of the war between Russian and Ukraine spilling across the border.
“It looks like we aren’t seeing an immediate escalation from the Russians and that has tentatively removed some of the short-term supply risks,” said Edward Moya, senior market analyst at OANDA....

Source: Oil Falls on Easing Geopolitical Tensions, China Demand Worries

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