Brent crude futures fell 36 cents to $90.24 a barrel by 0645 GMT, while U.S. West Texas Intermediate crude futures dropped 37 cents to $87.17
Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies from extended production cuts in Saudi Arabia and Russia.
“At present, it is really difficult for us to see any negative factors due to supply constraints. However, we need to consider possible demand risks such as in the fourth quarter, the market could slow into an off peak season for oil consumption after summer demand ends,” said CMC Markets’ Shanghai-based analyst Leon Li.
However, it is still too early to judge the pace of China’s demand recovery, although it should have improved from July, he added.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Brent Oil Hits $90 a Barrel After OPEC+ Extends Supply CurbsBrent oil rallied to $90 a barrel for the first time since November as key OPEC+ producers extended supply cuts that have tightened the crude market.
Lire la suite »
Oil surges beyond US$90 after Saudi Arabia and Russia prolong cutsBrent oil soared past US$90 a barrel for the first time since November as the largest OPEC+ producers extended their supply cuts to year-end.
Lire la suite »
Oil rallies past $90 after Saudi Arabia and Russia extend supply cuts to year endBrent crude oil soared past US$90 a barrel as the largest OPEC+ producers extended their supply cuts risking another inflationary push. Read on.
Lire la suite »
Oil rallies past $90 after Saudi Arabia and Russia extend supply cuts to year endBrent crude oil soared past US$90 a barrel as the largest OPEC+ producers extended their supply cuts risking another inflationary push. Read on.
Lire la suite »
Oil edges away from US$90 after OPEC+ leaders extend supply cutsBrent oil retreated from US$90 a barrel as traders digested a decision by OPEC+ leaders Saudi Arabia and Russia to extend supply curbs through the end of the year.
Lire la suite »
A key global oil price zoomed past $90 a barrel for the first time in 2023 — and analysts say it could keep inflation highPrices spiked because oil giants Saudi Arabia and Russia said they plan to extend the production cuts of 1.3 million barrels a day through December.
Lire la suite »