Crude Oil Updates

Category:-Metal | 19-Jan-2023 09:38 AM

Oil prices fell about 1% on Wednesday, surrendering early gains as worries about a possible U.S. recession outweighed optimism that China’s lifting of COVID-19 curbs will fuel demand for crude in the world’s top oil importer.

Brent futures fell 94 cents, or 1.1%, to settle at $84.98 a barrel. U.S. West Texas Intermediate (WTI) crude fell 70 cents, or 0.9%, to settle at 79.48.

The session high for both benchmarks was the highest since Dec. 5. For WTI, Wednesday was the first time in nine sessions that the contract settled down.

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