Oil Updates – prices dip as demand worries outweigh Mideast supply fears
- Date: 17-Apr-2024
- Source: Arab News
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil Updates – prices dip as demand worries outweigh Mideast supply fears
TOKYO/SINGAPORE: Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in US commercial stockpiles outweighed supply fears from heightened tensions in the Middle East, according to Reuters.
Brent futures for June fell 40 cents, or 0.44 percent, to $89.62 a barrel by 9:32 a.m. Saudi time, while US crude futures for May fell 48 cents, or 0.56 percent, to $84.88 a barrel. Oil Updates – prices dip as demand worries outweigh Mideast supply fears