Oil prices have fallen due to concerns about demand recovery in China and caution around the US debt ceiling talks, despite lower supplies from Canada and OPEC+ producers. Brent crude futures fell 0.6% to $75.10 a barrel, while US West Texas Intermediate crude for July delivery fell 0.6% to $71.24. The resumption of US debt ceiling negotiations will remain a key driver for crude and risk sentiment this week, according to IG's Sydney-based analyst Tony Sycamore. Investors are also concerned that China's recovery is faltering after weak economic data reports in the past two weeks.
All Comments