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Oil sputters near three-month lows as demand concerns mount
Oil prices continued to decline due to concerns over weakening demand in the United States and China. Brent crude futures fell by 8 cents to $81.53 a barrel, while US crude dropped by 20 cents to $77.17. The market is less worried about potential disruptions in Middle Eastern supply and is focusing on an easing balance. The US Energy Information Administration (EIA) revised its forecast, predicting a decrease in petroleum consumption by 300,000 barrels per day this year.
Oil prices continued to decline due to concerns over weakening demand in the United States and China. Brent crude futures fell by 8 cents to $81.53 a barrel, while US crude dropped by 20 cents to $77.17. The market is less worried about potential disruptions in Middle Eastern supply and is focusing on an easing balance. The US Energy Information Administration (EIA) revised its forecast, predicting a decrease in petroleum consumption by 300,000 barrels per day this year. 
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