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

November 21st, 2022

Awake Goy

LONDON—Oil prices slipped 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 U.S. dollar strength weighed on prices.
Brent crude futures for January had slipped 51 cents, or 0.6 percent, to $87.11 a barrel by 1205 GMT.
U.S. West Texas Intermediate (WTI) crude futures for December were at $79.86 a barrel, down 22 cents or 0.3 percent, ahead of the contract’s expiry later on Monday. The more active January contract was down 42 cents or 0.5 percent to $79.69 a barrel.
Both benchmarks closed Friday at their lowest since Sept. 27, extending losses for a second week, with Brent down 9 percent and WTI 10 percent lower…. Source

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