U.S. crude was down 92 cents at $43.28 a barrel, its lowest since May 10.Traders said oversupply and growing economic headwinds were weighing on oil. "As a result, crude oil demand from refineries is underperforming product demand by a wide margin," the bank said.But consultancy Energy Aspects said the oil market was beginning to show small signs of "normalcy" in supply-and-demand balances. "Crude markets are slowly tightening and are now more resilient in the face of falling refinery demand for crude," the consultancy said. "With the market increasingly trading on DOE (U.S. Department of Energy) stats, this could be a catalyst for additional downside," the bank said. It pointed to resilient U.S. supply, falling demand for transport fuels, and oversupply by refiners.

Source: Economic Times July 25, 2016 13:41 UTC