Oil loses 2% on lingering concerns about the demand outlook
Oil loses 2% on lingering concerns about the demand outlook
International benchmarks for crude oil lose another 2% on Friday, 25 November 2022 following a report on another new daily record for COViD-19 infection in China that further dim the demand outlook. Meanwhile, the EU continued to haggle over the potential price cap on Russian crude.
Brent dropped $1.71 or 2% at $83.63/barrel.
WTI fell $1.66 or 2.1% to close at $76.28/barrel.