Oil wobbles as demand woes stalk market after Saudi price cuts
TOKYO: Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for Asia.
Brent crude futures for November rose 4 cents, or 0.1%, to $72.26 a barrel by 0056 GMT, after falling 39 cents on Monday.
US West Texas Intermediate crude for October was at $68.88 a barrel, down 41 cents, or 0.6%, from Friday’s close, with no settlement price for Monday due to Labor Day holiday in the United States.
