Reported 2 months ago
Oil prices are facing a fourth consecutive weekly decline due to waning demand in major economies like the US and China, despite ongoing geopolitical tensions in the Middle East. Brent crude fell 1.6% to over $80 per barrel, while West Texas Intermediate hovered around $77, as manufacturing indicators hinted at economic weakness. Analysts suggest that the initial spike in oil prices following heightened geopolitical risks is correcting as demand concerns come back into focus.
Source: YAHOO