Reported 3 months ago
Oil prices fell slightly as concerns over the U.S. credit rating downgrade and sluggish economic data from China weighed on the market. Brent crude dropped to $65.06 and West Texas Intermediate to $62.23. Despite a recent trade truce between the U.S. and China, uncertainties around Iran-U.S. nuclear talks and continued tariffs on Chinese goods contribute to a cautious outlook for oil demand. Analysts note that the economic situation in both countries may hinder recovery efforts.
Source: YAHOO