Brent crude futures fell by $1.04 to $91.82 a barrel in early trade, while West Texas Intermediate crude futures slid $1.17 to $84.42 a barrel
Singapore — Oil prices extended declines on Thursday as concerns over geopolitical tensions eased, while rising numbers of Covid-19 cases in China added to demand worries in the world’s largest crude importer.
“Crude oil fell after Nato cleared Russia’s missile attack on Poland, while demand concerns [are] back to trader’s focus amid [China’s] ongoing Covid curbs and gloomy global economic outlooks,” said Tina Teng, an analyst at CMC Markets. Prices also struggled for direction after a mixed inventory report from the Energy Information Administration , he said.
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