24 Hrs
Source:
الوئام
Oil falls 2% as demand signs weaken
Oil prices declined by more than 2% at the end of Thursday's session, after experiencing gains that lasted for a week. Concerns over weak global demand and rising U.S. inventories—hitting their highest level since June—reflected a slowdown in demand across the world's largest economies. This came alongside worries about supply disruptions due to an attack on a refinery in Saudi Arabia and tensions in the Middle East, particularly in the Strait of Hormuz, as well as a decline in Russia's oil product exports. Despite the downward pressure on prices, supply concerns remained supportive of the market due to ongoing geopolitical tensions.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)