Financial Digest

Oil falls on greater supply, lower China demand

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Oil prices fell in early Asian trade on Thursday, led lower by increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China.Brent crude futures fell 37 cents, or 0.4 per cent, to $95.27 a barrel by 0006 GMT. U.S. West Texas Intermediate (WTI)

Oil prices fell in early Asian trade on Thursday, led lower by increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China.

Recent market volatility has followed concerns about inadequate supply in the months after Russia's invasion of Ukraine and as OPEC struggled to increase output.

 

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