Oil Futures Settle Sharply Lower On Demand Worries

Futures Settle Sharply Lower Demand Worries Nachrichten

Oil Futures Settle Sharply Lower On Demand Worries
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WASHINGTON (dpa-AFX) - Oil prices fell sharply on Tuesday amid concerns about the outlook for oil demand after data showed China's oil imports rose less than expected in August, and a downward

WASHINGTON - Oil prices fell sharply on Tuesday amid concerns about the outlook for oil demand after data showed China's oil imports rose less than expected in August, and a downward revision by by OPEC in its oil demand forecast.West Texas Intermediate Crude oil futures for October ended down $2.96 or about 4.31% at $65.75 a barrel.China's crude imports dropped by about 3% in 2024.

OPEC expects oil demand to grow by about 2 million barrels per day this year, which is about 80,000 bpd lower than its earlier forecasts. The group sees oil demand to grow to 1.7 million bpd next year, about 40,000 bpd lower than originally anticipated. Markets now await weekly oil reports from the American Petroleum Institute and Energy Information Administration .Copyright RTT News/dpa-AFX© 2024 AFX NewsBesser als NVIDIA! 3 KI- Favoriten mit riesigem Potenzial Erleben Sie die KI-Revolution und sichern Sie sich gigantische Gewinne!

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