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Oil slumped as weak demand outlook overshadowed US crude stocks reportOil slumped as weak demand outlook overshadowed US crude stocks report |
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International benchmarks for crude oil continue to fall on Wednesday, 31 August 2022 following reports on weak manufacturing activities globally. Meanwhile, the renewed COVID-19 restrictions in China are expected to dampen demand.
Brent for October delivery downed $2.82 or 2.8% to settle at $96.49/barrel.
WTI lost $2.09 or 2.3% to close at $89.55/barrel.
