2024-03-11T05:07:16+00:00
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/ On Monday, oil costs continued the losses they suffered final week because of issues concerning the slowdown in demand in China, however the continued geopolitical dangers surrounding the Center East and Russia restricted the decline.
By 01:29 GMT, Brent crude futures fell 48 cents, or 0.6 %, to $81.60 per barrel, whereas US West Texas Intermediate crude fell 50 cents, or 0.6 %, to $77.51.
Each crude oils fell final week, with Brent falling 1.8 % and West Texas Intermediate crude falling 2.5 %.
Final week, China set its 2024 financial progress goal at about 5 %, which many analysts described as bold with out additional stimulus.
Knowledge final Thursday confirmed that China’s imports of crude oil rose within the first two months of the 12 months in comparison with the identical interval in 2023, however they have been weaker than the earlier months, persevering with the pattern of declining purchases by the most important oil purchaser on the planet.