Reported 11 days ago
Oil prices fell by 1% due to worries about demand growth in 2025, particularly from China, which is expected to peak crude imports sooner than anticipated. The stronger U.S. dollar, coupled with the Federal Reserve's cautious stance on interest rate cuts, further pressured oil prices. Brent crude futures decreased to $72.12 per barrel, while West Texas Intermediate dropped to $68.62. Market experts indicate that the oil sector is in a consolidation phase, with ongoing adjustments to the demand outlook by OPEC+.
Source: YAHOO