Market Fluctuations In Oil Prices Arise As OPEC+ Cuts And Concerns Over Demand In China Are Taken Into Consideration
Category: General
In Wednesday's Asian trade, oil prices displayed a mix of movements following four consecutive sessions of losses. The market deliberated on the effectiveness of OPEC+ cuts on supplies and concerns regarding a worsening demand outlook in China.
Brent crude futures inched up by 1 cent, reaching $77.21 per barrel. Meanwhile, U.S. WTI crude futures recorded a 4-cent decline, settling at $72.28 per barrel, according to Reuters.
During the preceding session, both benchmarks closed at their lowest levels since July 6, with WTI experiencing four consecutive days of declines.
06 Dec, 2023
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