:Oil slipped nearly 1per cent on Wednesday, extending losses for a second day, as broader concerns about economic growth and oil demand stagnation overshadowed tightening supplies. [EIA/S]"We're in an uncertain demand environment with continued pandemic-related lockdowns in China, and with poor global economic data coming out regularly," Kilduff said. Brent crude futures fell 72, or 0.7per cent, to US$US$106.53a barrel by 12:59 a.m. EDT (1799 GMT). The front-month WTI crude futures contract, which expires on Wednesday, fell 70 cents, or 0.7per cent, to US$101.86. Continuing coronavirus lockdowns in China also have hurt demand in the world's top crude importer and are weighing on prices.

Source: Libya Today April 20, 2022 10:23 UTC