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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Prices Dip on China Demand Worries

Ice Oil China Recession
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand.

Brent crude was down 31 cents, or 0.3%, at $97.61 a barrel by 1450 GMT, while US West Texas Intermediate (WTI) crude was 50 cents, or 0.5%, lower at $91.29. They retraced some earlier losses alongside European equities markets rising as the United States goes to the polls.

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