Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China. Brent futures dipped 13 cents to $75.54 a barrel by 00:08 GMT, while U.S. West Texas Intermediate (WTI) crude dropped
Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China.
Chinese demand for oil is expected to keep climbing at an assured rate during the second half of the year, said Kuwait Petroleum Corp's chief executive. Concerns around interest rates also weighed, with investors worried that higher rates would slow the U.S. and European economies and reduce oil demand.
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