Crude prices fall after Saudi Arabia cuts Asian prices
- Date: 06-Sep-2021
- Source: CNBC
- Sector:Oil & Gas
- Country:Saudi Arabia
Crude prices fall after Saudi Arabia cuts Asian prices
Oil prices came under renewed pressure on Monday, after Saudi Arabia cut prices for its Asian customers and demand worries lingered following last week’s weaker-than-expected U.S. jobs data.
In electronic trading, West Texas intermediate crude for October delivery CLV21, -0.43% CL00, -0.43% fell 82 cents, or 1.2%, to $68.47 a barrel, after closing down 1% to $69.29 a barrel on Friday. WTI prices rose 0.8% for the week. U.S. markets will be closed on Monday in observance of the Labor Day holiday.
Global benchmark Brent crude BRNX21, -0.43% BRN00, -0.43% fell 83 cents, or 1.1%, to $71.76 a barrel. Brent declined 0.6% to $72.61 a barrel on Friday, but was up 1.3% for the week.
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