Oil prices fall as Shanghai's new partial COVID lockdowns stoke demand worries
Business
11:52 10 Jun, 2022
Update on oil price
Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lockdown measures in Shanghai outweighed solid demand for fuels in the United States, the world's top consumer, Qazet.az reports.
Brent crude futures for August were down 77 cents, or 0.6%, at $122.30 a barrel as of 0448 GMT after a 0.4% decline the previous day. U.S. West Texas Intermediate crude for July fell 72 cents, or 0.6%, to $120.79 a barrel, having dropped 0.5% on Thursday.