Oil extends drop on easing Libyan dispute, demand concerns

Quick Summary:

SINGAPORE: Oil prices fell on Wednesday, extending a plunge of more than 4% the previous day and hovering at their lowest since December, on expectations that a political dispute halting Libyan exports could be resolved and concerns over sluggish global demand.

Brent crude futures for November fell 43 cents, or 0.6%, to $73.32 by 0645 GMT, after the previous session's fall of 4.9%.U.S.

"The market remained under pressure also because of concerns over sluggish fuel demand following weak economic indicators from China and the United States".

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Category: EconomyBusiness

Markets: MalaysiaChinaSingaporeUnited States

Topics: Energy Brent WTI /Business/Business News Libya

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 15:33:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22364258

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