Oil slides as renewed China Covid curbs temper fuel demand outlook

Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world’s biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook.

Brent crude futures for September fell $1.47, or 1.4%, to $105.63 a barrel by 0057 GMT while U.S. West Texas Intermediate crude for August delivery was at $102.50 a barrel, down $1.59, or 1.5%.