Reported 3 days ago
Oil prices showed a mixed response in early Asian trading on Monday, as fears of weak Chinese demand were countered by escalating tensions in the Middle East following the recent ousting of Syrian President Bashar al-Assad. Brent crude fell slightly to $71.11 per barrel, while U.S. West Texas Intermediate crude rose to $67.21 per barrel. Last week, Brent saw a decline over 2.5%, and WTI dropped 1.2%, with analysts anticipating a supply surplus next year despite OPEC+ extending production cuts. Moreover, Saudi Aramco reduced January prices for Asian buyers to their lowest since early 2021, driven by weak demand from China.
Source: YAHOO