Oil prices drops nearly 2% as worries about demand resurface

Oil prices drops nearly 2% as worries about demand resurface

Oil prices turned negative in afternoon trading on Thursday, with downbeat comments from Federal Reserve officials on economic activity and some doubts over producer compliance with the OPEC+ output-cut agreement prompting prices to settle lower. The US benchmark, shed 44 cents, or 1.83%, to settle at $23.55 per barrel. Brent crude settled 26 cents lower at $29.46 per barrel.

KCooper
KCooper
Top in Business
Get the App