Oil dips as investors eye US crude release, China demand concerns
Oil futures eased for a second session on Friday on expectations that Washington may soon act to cool prices that remain above $80 per barrel, while movement curbs in China to rein in a COVID-19 outbreak weighed on fuel demand.
Brent crude futures fell 6 cents to $84.41 a barrel at 0427 GMT. U.S. West Texas Intermediate crude was down 21 cents, or 0.3%, at $81.91 a barrel.
China, the world’s second-biggest oil consumer, has suspended some international flights and stepped up efforts to rein in a virus outbreak at Tianjin while the highly transmissible Omicron variant has spread to the northeastern city of Dalian.
