Top
image credit: Adobe Stock

Oil prices stable as economic fears offset supply woes

October 18, 2022

Category:

Oil prices were stable on Tuesday as the market balanced cuts to OPEC+ production quotas against fears of economic slowdown and lower Chinese fuel demand.

Brent crude futures eased by 7 cents, or 0.08%, to $91.55 a barrel by 1127 GMT while U.S. West Texas Intermediate (WTI) crude futures were down 12 cents, or 0.14%, at $85.34.

WTI had risen earlier by more than $1 a barrel on a weaker dollar, which makes oil cheaper for buyers holding other currencies. [FRX/]

Read More on Investing.com