3 months ago

Oil Prices Drop Amid Increasing Economic Concerns

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Wibbitz Top Stories
Oil Prices Drop Amid , Increasing Economic Concerns.
Reuters reports that on Oct. 24, data from China showed that the country's oil demand remained at disappointing levels in September.
The recent recovery in oil imports faltered in September, ANZ analysts, via Reuters.
China's COVID policies and curbs on fuel exports contributed to the decline. .
China's COVID policies and curbs on fuel exports contributed to the decline. .
Reuters reports that "Brent crude
futures for December settlement"
dropped 1.3% to $92.33 a barrel. .
"U.S. West Texas Intermediate crude for December delivery" dropped 1.7% to $83.65 a barrel.
Reuters reports that Brent crude rose last week even though President Biden announced the sale of
15 million oil barrels from the nation's reserves. .
Reuters reports that Brent crude rose last week even though President Biden announced the sale of
15 million oil barrels from the nation's reserves. .
Biden said his administration would work to replenish the U.S. Strategic Petroleum Reserves once oil hits $70 a barrel.
However, analysts said the move
wouldn't affect prices much.
Such a release is likely to have
only a modest influence
(

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