Oil Prices Drift Lower as Demand Weakness Weighs on Markets

Oil Prices Drift Lower as Demand Weakness Weighs on Markets

Oil prices slipped modestly in early Asian trading on Wednesday, with the West Texas Intermediate (WTI) down 0.71% to $60.13 and Brent crude trading 0.62% lower at $64.04. The subdued tone reflects a market caught between weak demand signals and lingering supply concerns. On the demand side, investors remain cautious about global growth prospects, especially in Asia, where slower industrial activity and weaker energy consumption are weighing on …

Oil softens amid weak economic data, equity markets

(Investing) – LONDON -Oil prices eased on Wednesday as investors digested weaker economic data from top oil importers, but an expected drop in U.S. fuel inventories limited further losses. Brent crude futures were down 37 cents, or 0.6%, at $64.07 a barrel by 1419 GMT, while U.S. West Texas Intermediate crude was 43 cents, or 0.7%, lower at $60.13. Oil prices followed equities lower, as a shift in risk sentiment has been an important driver in re