Oil prices slide as hopes for China demand rebound fade

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Home Business Oil prices slide as hopes for China demand rebound fade 07-11-2022 09:24 AM Ammon News - Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer. Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. U.S. West Texas Intermediate crude was at $91.24 a barrel, down $1.37, or 1.5%, dropping to a session-low of $90.40 a barrel earlier in the session.

Home Business

Oil prices slide as hopes for China demand rebound fade

07-11-2022 09:24 AM

Ammon News - Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer.

Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. U.S. West Texas Intermediate crude was at $91.24 a barrel, down $1.37, or 1.5%, dropping to a session-low of $90.40 a barrel earlier in the session.

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