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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Prices Ease to Trade Near 2-Month Lows on China Demand Fears, Dollar Strength

China Oil US Dollar Texas

An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US, June 9, 2016. (Reuters)

Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and US dollar strength weighed on prices.

Brent crude futures for January had slipped 74 cents, or 0.8%, to $86.88 a barrel by 0715 GMT.

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