2024-08-06 23:30:51
Oil prices began to fall on Monday afternoon on concerns about global fuel demand.
As reported by Day.Az, during the day, September futures for Brent fell on the London ICE Futures exchange by $0.41 (0.51%), to $80.72 per barrel. September futures for WTI by this time fell on the NYMEX exchange by $0.43 (0.56%), to $76.73 per barrel.
Last week, Brent fell by 1.8%, WTI by 1.9%.
Oil prices rose early Monday on fears of an escalation of tensions in the Middle East. Israeli Air Force planes carried out a series of airstrikes in southern Lebanon on Sunday in response to a missile strike on the town of Majdal Shams in the Israeli-controlled Golan Heights.
“Fears of escalating tensions in the Middle East triggered oil buying, but gains were capped by worries about weakening demand in China,” wrote Fujitomi Securities analyst Toshitaka Tazawa.
It was previously reported that fuel imports into China fell by 11% in the first half of 2024.
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