Oil prices dip as geopolitical risks stabilise, China demand weighs

Home Business Oil prices dip as geopolitical risks stabilise, China demand weighs 22-10-2024 10:35 AM Ammon News - Oil prices eased on Tuesday as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world's top oil importer, continued to weigh on the market. Brent crude futures for December delivery were down 19 cents, or 0.3%, at $74.1 a barrel at 0350 GMT. U.S. West Texas Intermediate crude futures for November delivery were 18 cents lower at $70.43 a barrel on the contract's last day as the front month. The more actively traded WTI futures for December , which will soon become the front month, lost 14 cents, or 0.2%, to $69.9 per barrel. Both Brent and WTI settled nearly 2% higher on Monday, recouping some of last week's more than 7% decline, with no letup of fighting in the Middle East and the market still nervous about Israel's expected retaliation against Iran potentially leading to a disruption of oil supply. Reuters

Home Business

Oil prices dip as geopolitical risks stabilise, China demand weighs

22-10-2024 10:35 AM

Ammon News - Oil prices eased on Tuesday as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world's top oil importer, continued to weigh on the market.

Brent crude futures for December delivery were down 19 cents, or 0.3%, at $74.1 a barrel at 0350 GMT. U.S. West Texas Intermediate crude futures for November delivery were 18 cents lower at $70.43 a barrel on the contract's last day as the front month.

The more actively traded WTI futures for December , which will soon become the front month, lost 14 cents, or 0.2%, to $69.9 per barrel.

Both Brent and WTI settled nearly 2% higher on Monday, recouping some of last week's more than 7% decline, with no letup of fighting in the Middle East and the market still nervous about Israel's expected retaliation against Iran potentially leading to a disruption of oil supply.

Reuters

no comments

Notice

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.

name : *
email
	show email
comment : *
Verification code :	Refresh write code :