Oil prices fall as weaker China growth, U.S. output stoke demand concerns

Oil prices fall as weaker China growth, U.S. output stoke demand concerns
# 19 October 2021 07:17 (UTC +04:00)

Oil prices fell on Tuesday, with Brent down a second straight day, after Chinese data showed slowing economic growth and U.S. factory output dropped in September, raising fresh concerns about demand amid patchy recovery from the coronavirus pandemic, APA reports quoting Reuters.

Brent crude was down by 43 cents, or 0.5%, at $83.90 a barrel by 0132 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month.

U.S. oil fell 33 cents, or 0.4%, to $82.11 a barrel, having risen 0.2% in the previous session and nearly 10% this month.

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