Oil eases on strong dollar, global economic news


Brent futures fell 47 cents, or 0.6%, to settle at US$85.24 a barrel, while US West Texas Intermediate crude (WTI) ended 56 cents, or 0.7%, lower at US$80.73.

NEW YORK: Crude prices eased about 1% on Friday on worries that global oil demand growth could be hit by a strong US dollar and negative economic news from some parts of the world.

Prices declined despite signs of improving US oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.

Subscribe now for a chance to win your dream holiday!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Oil eases on weak US fuel demand, profit-taking
Boston office slump sets up US$400mil burden for residents
Investor confidence returns to US IPOs
The e-invoicing dilemma
International reserves at US$113.6bil
AmBank aiming big in hire-purchase segment
G3 Global’s third cash call raises eyebrows
Sik Cheong seeking ACE Market listing
Supporting the shift to a cashless society
Anwar: GDP growth to hit official 4% to 5% target

Others Also Read