LONDON: Oil prices fell slightly on Tuesday as investors remained focused on the likelihood that China’s economic malaise will keep hobbling demand from the world’s top crude importer.
Brent crude was down 36 cents at $84.10 a barrel by 11:45am EDT (1545 GMT). The more active US West Texas Intermediate October contract slipped 36 cents to $79.76.
The front-month WTI contract was down 19 cents at $80.53 a barrel on very limited volume ahead of its imminent expiry.
China, the world’s second-largest economy, is considered crucial to shoring up oil demand over the rest of the year.
Published in Dawn, August 23th, 2023