Brent crude oil hovers around $80 after this week’s downward spiral
The Brent crude oil benchmark hovered around $80 a barrel on Thursday, with demand concerns and a waning war-risk premium having triggered a selloff over the past week.
Brent crude futures were up 45 cents at $79.99 a barrel by 1147 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 43 cents to $75.76.
The uptick came after both benchmarks dropped to their lowest since mid-July on Wednesday as worry over possible supply disruptions in the Middle East eased and concern over U.S. and Chinese demand intensified. Brent is nearly $20 a barrel lower than its September peak.
