Oil prices down on weaker growth in China, US rate hike jitters

TOKYO: Oil prices fell in early trade on Thursday, extending losses to a fourth consecutive session on fears of slowing growth in China and possible further U.S. interest rate hikes weakening fuel demand in the world’s two biggest economies.

Brent crude futures fell 37 cents, or 0.44%, to $83.08 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 39 cents, or 0.49%, to $78.99 a barrel at 0038 GMT.