Reported 14 days ago
Oil prices fell approximately 2% as China's stimulus failed to boost demand expectations, while the U.S. dollar strengthened, making dollar-denominated oil more expensive for foreign buyers. Brent crude futures dropped to $73.29 a barrel, with concerns about potential supply disruptions from a storm also easing. Analysts indicate that China’s weak inflation and growing fears of deflation will likely hinder oil demand growth in the country, contributing to the price drop.
Source: YAHOO