Oil pares losses on continued demand concerns

2021-09-20 16:46:54 GMT (Economies.com)
Oil pares losses on continued demand concerns

Oil prices fell on Monday, amid concerns about global demand, especially the Chinese demand.

 

As for Evergrande, the world's most indebted real estate developer, doubts about the Chinese company's ability to meet its obligations have raised concerns about the integrity of the Chinese real estate and credit markets.

 

The People's Bank of China has injected about 90 billion Chinese yuan ($14 billion), in attempts to ease global markets' concerns about the world's second largest economy.

 

The dollar index rose against a basket of major currencies by 0.1% to 93.2 points as of 16:24 GMT, after hitting a high of 93.4 points and a low of 93.1 points.

 

As of 16:18 GMT, WTI crude October futures fell 2% or $1.47, to $70.50 a barrel.

 

Brent November futures fell 1.7% to $74.08 a barrel.

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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