As demand for fuel drops, oil prices slip
China’s crude imports were down 14.6% in May year on year, with daily arrivals at their lowest level in 2021
08 June 2021 - 10:34
Tokyo — Oil prices extended their losses on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China’s oil imports fell in May.
Brent crude was down 49c, or 0.7%, at $71.00 a barrel by 6.43am GMT, after declining 0.6% overnight. US oil was off by 44c, or 0.6%, at $68.79 a barrel, having dropped by 0.6% in the previous session...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.