Reported 14 days ago
Oil prices have continued to drop due to a weak demand outlook from China, the world's largest crude importer, and a strengthened dollar. West Texas Intermediate is down 3.3% to around $68 a barrel, while Brent crude is below $72. Key indicators suggest a decrease in short-term market tightness, worsened by a forecasted surplus next year and geopolitical tensions. Market participants are anticipating upcoming influential reports from OPEC and the U.S. Energy Information Administration.
Source: YAHOO