This website uses cookies. We use cookies to ensure that we give you the best experience on our website. Read More

Fears of declining global demand put pressure on oil prices

3 Sep 2020 05:39 PM

Yesterday’s fall in oil prices continued during trading today, declining by more than 2% as concerns over falling gasoline demand in the US and the wider hit to global economic recovery from the pandemic.

Brent crude fell by 2.25% to $43.43 a barrel, while West Texas crude futures fell by 2.5% to $40.49.

Recent data from the EIA showed that US gasoline demand fell by 8.78 million barrels a day over the past week.

Tags:

Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only