Oil eases as stock build raises spectre of slower US demand

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SINGAPORE: Oil prices dipped on Thursday as a surprise build in U.S.stockpiles fuelled fears about slow demand from the world's top oil consumer, though declines were capped by worries a potential expansion of the Gaza war may disrupt Middle East supplies.

Turkish President Tayyip Erdogan said his country stood in solidarity with Lebanon and called on regional countries' support.

"But the market is in a tug-of-war situation, underpinned by the prospect that an escalation in the battle between Israel and Hezbollah may hinder supply," he added.The U.S.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIsraelLebanonSingapore

Topics: /Business/Business News Energy WTI Brent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 14:58:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21399819

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