Reported 3 months ago
Oil prices dropped during early Asian trading due to worries over declining demand in China and easing geopolitical tensions in the Middle East. Brent crude fell to $79.78 per barrel, and U.S. crude slipped to $75.67 per barrel as disappointing economic news emerged from China, where manufacturing activity is expected to have contracted for the third month. Additionally, Citi downgraded China's growth forecast. Meanwhile, tensions surrounding Israel's response to recent conflicts have lessened, reducing the risk of significant escalation in the region.
Source: YAHOO