• Oil prices slip as economic worries offset tightening supplies

    12 Jul 2021 | Economic News
  


Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.

Brent crude for September fell 35 cents, or 0.5%, to $75.20 a barrel by 0641 GMT while U.S. West Texas Intermediate crude for August was at $74.23 a barrel, down 33 cents, or 0.4%.


The spread of coronavirus variants and unequal access to vaccines threaten the global economic recovery, finance chiefs of the G20 large economies warned on Saturday.


Reference: Reuters

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