Oil dips as investors eye U.S. crude release, China demand concerns

Published by
Reuters UK

By Florence Tan SINGAPORE (Reuters) -Oil futures eased for a second session on Friday on expectations that Washington may soon act to cool prices that remain above $80 per barrel, while movement curbs in China to rein in a COVID-19 outbreak weighed on fuel demand. Brent crude futures fell 6 cents to $84.41 a barrel at 0427 GMT. U.S. West Texas Intermediate crude was down 21 cents, or 0.3%, at $81.91 a barrel. China, the world’s second-biggest oil consumer, has suspended some international flights and stepped up efforts to rein in a virus outbreak at Tianjin while the highly transmissible Omicr…

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