Reported 9 days ago
Oil prices are on track for a weekly decline due to mixed economic data from China, a strong US dollar, and worries about a potential oversupply in the global market next year. Brent crude fell below $72 per barrel, with West Texas Intermediate nearing $68, as the International Energy Agency predicted a supply surplus amid slowing demand growth in China. While some economic indicators showed improvement, oil demand was down in October compared to last year, and local refiners processed less oil than before.
Source: YAHOO