Oil prices trim Middle East war risk-gains, China demand remains a worry
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Oil prices fell on October 22, 2024, with Brent crude down 26 cents to US$74.03 per barrel and WTI down 2 cents to US$70.54 per barrel; this follows a nearly 2.0% rise the previous day; U.S. Secretary of State Antony Blinken is in the Middle East to push for a ceasefire amid ongoing conflict; China's economic growth slowed to its lowest since early 2023, raising concerns about oil demand; Saudi Aramco remains optimistic about China's oil demand despite these concerns; the market is influenced by geopolitical tensions and economic indicators.
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https://www.nst.com.my/business/corporate/2024/10/1123467/oil-prices-trim-middle-east-war-risk-gains-china-demand-remains
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