Oil prices inch lower as dollar firms; China Covid worries dent demand
Oil prices slid on Tuesday, extending losses of nearly 2 per cent in the previous session, as a stronger US dollar and a flare-up in Covid-19 cases in China raised concerns of slowing global demand.
Brent crude futures fell 27 cents, or 0.3 per cent, to $95.92 a barrel by 0342 GMT, after falling $1.73 in the previous session.
US West Texas Intermediate crude was at $90.73 a barrel, down 40 cents, or 0.4 per cent, after losing $1.51 in the previous session.
The dollar gained on Tuesday, with worries about rising interest rates and geopolitical tensions unsettling investors.
