Oil prices eased today due to concerns over weak demand in China, the world's largest crude importer. Brent crude futures for September fell 38 cents, or 0.5%, to $81.33 a barrel. US West Texas Intermediate crude slid 33 cents, or 0.4%, to $77.26 per barrel. Benchmarks settled higher yesterday (Wednesday), after the Energy Information Administration said US crude inventories fell by 3.7 million barrels last week. US gasoline stocks dropped by 5.6. Distillate stockpiles fell by 2.8 million barrels versus expectations for a 250,000-barrel increase, the Energy Information Administration data showed. Source: Oman News Agency
Oil Falls on Weak China Demand Concerns
Oil Falls on Weak China Demand Concerns
RECENT POST
Oman Nature Reserve Threatened by Oil Spill
August 6, 2026
Iran and Oman Close to Deal on Hormuz Without US Involvement
August 6, 2026
Gold Rises 0.1% on Softer Dollar, Focus on US Jobs Data
August 5, 2026
Dollar Near 6-Week Low, Yen Steadies
August 5, 2026
Oman Oil Price Drops by USD 4.35
August 5, 2026