2024-08-21 06:29:43
Oil prices fell in Asian trade today as concerns over weaker demand in the world’s top oil importer, China, weighed on market sentiment. Meanwhile, investors are turning their attention to progress in Middle East ceasefire talks that could reduce supply risks, Reuters reported, citing BTA.
Brent crude futures were down 13 cents, or 0.2 percent, at $79.55 a barrel. U.S. light crude lost 13 cents, or 0.2 percent, to $76.52 a barrel.
Contracts for both varieties fell nearly 2 percent on Friday after investors tempered their expectations of a pick-up in demand from China, but ended the week largely unchanged from the previous week after a series of U.S. economic data last week showed , that inflation is moderate and retail spending is stable.