Oil eases as investors eye U.S. oil release, China demand concerns

Published by
Reuters UK

By Florence Tan SINGAPORE (Reuters) – Oil prices eased for a second session on Friday on growing concerns that Washington may soon act to cool prices, while movement controls in China to rein in a COVID-19 outbreak weighed on fuel demand. Brent crude futures fell 30 cents, or 0.4%, to $84.17 a barrel at 0150 GMT. U.S. West Texas Intermediate crude was down 45 cents, or 0.6%, at $81.67 a barrel. China, the No. 2 oil consumer globally, has suspended some international flights and stepped up efforts to rein in a virus outbreak at Tianjin while the highly transmissible Omicron variant has spread t…

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