Oil prices slip 1% on bets that crude supply growth will exceed demand By Reuters – Investing.com

Oil prices slip 1% on bets that crude supply growth will exceed demand By Reuters – Investing.com

By Sonali Paul

MELBOURNE (Reuters) - Oil prices fell on Wednesday for a third day on growing expectations that supply growth will outpace demand growth next year, even though the Omicron coronavirus variant is not seen curbing mobility as sharply as earlier COVID-19 variants.

U.S. West Texas Intermediate (WTI) crude futures fell 52 cents, or 0.7%, to $70.21 a barrel at 0215 GMT, after losing 56 cents in the previous session.