Oil Prices Dip as Demand Concerns Offset Mideast Stock Fears
On Wednesday, oil prices dropped due to worries about global demand amid China’s economic slowdown and anticipated US commercial stock increases, despite Middle East tensions. In the Asian afternoon session, Brent futures for June delivery dipped by 0.34% to $89.69 a barrel. Moreover, West Texas Intermediate (WTI) declined by 0.39%