Oil falls on easing geopolitical tensions, China demand worries
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.
Brent crude futures fell by $1.04, or 1.1%, to $91.82 a barrel by 0430 GMT. US West Texas Intermediate (WTI) crude futures slid $1.17, or 1.4%, to $84.42 a barrel.
On Wednesday Brent dropped by 1.1% and WTI 1.5% after Russian oil shipments via the Druzhba pipeline to Hungary restarted.
