WTI crude falls 2% to below $39

07/09/2020 Argaam

Crude oil prices declined on Monday amid concerns about the speed of recovery in global oil demand during the ongoing COVID-19 pandemic.

 

Official data in China showed that Beijing's imports of oil rose 13% in August on an annual basis, to the level of 11.18 million barrels per day.

 

Brent crude futures for November fell 1.6% to $41.99 a barrel, at 8.55 am Mecca time.

 

US West Texas Intermediate crude was at $38.99 a barrel, down 2%.

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