Economic news

Oil takes downturn amid risks of demand growth halt

Crude prices eased today, paring yesterday’s increases, on stirred up worries over unlikely continuation of fuel demand lifts considering economic difficulties.

Photo: Reuters

Brent futures moved lower to $79.36 per barrel, giving up 38 cents since last close.

U.S. WTI futures dipped to $69.88 for a barrel, losing 49 cents.

Concerns over possible pull-back in demand gains emerged as a result of U.S.-China trade war, with the countries being the global leaders in oil consumption, and disarray in emerging economies.

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