Oil prices fell for a fourth day on Thursday on concerns that new COVID curbs in China, the world's biggest crude importer, will impact fuel demand.
Brent crude futures fell 34 cents, or 0.4%, to $92.31 a barrel at 0115 GMT. U.S. West Texas Intermediate crude futures were down 31 cents at $85.52 a barrel.The manufacturing hub of Guangzhou, a city of 19 million people, on Thursday reported more than 2,000 new cases for Nov. 9, the third day above that level, in the city's worst outbreak so far. Millions of residents were told to
Crude oil stockpiles rose by 3.9 million barrels last week, the U.S. Energy Information Administration said, taking inventories to their highest since July 2021. Bearishness around the rise in U.S. crude oil stockpiles may have been overdone, Commonwealth Bank analyst Vivek Dhar said.
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