LONDON (Reuters) -Oil prices edged down on Wednesday as expectations grew that demand growth will fall as inflation and supply chain issues strain major economies, though surging prices for power generation fuel limited losses.
Brent crude futures were down 76 cents, or 0.9%, at $82.66 a barrel at 1406 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 80 cents or 0.9% to $79.84 a barrel.
Weighing on prices, China, the world’s biggest crude importer, released data showing September imports fell 15% from a year earlier.
China, along with Europe and India, remains mired in coal and natural gas shortages that have pushed up prices for the fuels burned for electricity generation and are leading to oil products being used as a substitute.
