Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
- Posted on October 19, 2024
- By Business News Today
- 3 Views
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
Oil futures dropped over 7% this week amid concerns about Chinas slowing economic growth and mixed Middle East outlook. Brent crude fell to $73.06 per barrel and U.S. WTI settled at $69.22. Increased electric vehicle sales in China and geopolitical tensions also impacted prices.
