Oil lower amid weaker demand

Source: Reuters
Crude prices dropped on Monday, as weakening demand weighed on markets, although the US futures were supported by reduced American drilling. Futures for WTI were traded 0.54% lower at $44.41 per barrel, while contracts for Brent fell 1.16% to $48.46 per barrel by 08:10 AM GMT. Meanwhile, analysts say that the major downside risks for oil come from uncertainty over the Greenback's direction and slowing demand from China.

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