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Business

Oil falls on uncertainty over fuel demand recovery

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Published by
Reuters UK

By Mohi Narayan and Scott DiSavino (Reuters) -Oil prices fell on Friday as investors worried that weakening global economic growth and tighter central bank monetary policy could curb a recovery in fuel demand. Brent futures for July fell 63 cents, or 0.56%, to $111.41 a barrel by 0432 GMT, while U.S. West Texas Intermediate (WTI) crude for June fell $1.36, or 1.21%, to $110.85 on its last day as the front-month. The more actively traded WTI contract for July was down 0.82% at $108.99 a barrel. The International Monetary Fund (IMF) urged Asian economies to be mindful of spillover risks from mon…

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