Low oil prices in light of fears of US actions

Oil prices fell in trading today, Tuesday, in light of concerns about the tightening of monetary policy by the US Federal Reserve, which clouded hopes for a recovery in demand in China.

By 11:48 Moscow time, futures for American oil fell by 0.44% to $74.30 per barrel.

At the same time, futures for Brent crude oil fell 0.49% to $79.26 per barrel, according to Bloomberg data.

Commenting on this, economist Warren Patterson, head of commodities strategy at ING Group, said: “Weakness in the dollar and growing optimism about demand in China have provided support for (oil) prices.”

Source: RT + Bloomberg