INSUBCONTINENT EXCLUSIVE:
Oil futures fell more than $2 a barrel on Monday, with WTI hitting an 11-month low, as protests in top importer China over strict COVID-19
curbs fuelled demand concerns.Brent crude dropped $2.16, or 2.6%, to trade at $81.47 a barrel at 0230 GMT, after diving to $81.16 earlier in
the session -- its lowest since Jan
West Texas Intermediate (WTI) crude slid $2.08, or 2.7%, to $74.20 a barrel
It fell as far as $73.82 earlier -- its lowest since Dec
27, 2021.Both benchmarks, which hit 10-month lows last week, have posted three consecutive weekly declines
said, adding the market could stay volatile depending on the outcome of the OPEC+ meeting and the price cap on Russian oil.China, the
unprecedented in mainland China since Xi assumed power a decade ago, as frustration mounts over his zero-COVID policy nearly three years
Organization of the Petroleum Exporting Countries and allies, known as OPEC+, will meet on Dec
European Union diplomats have been discussing a price cap on Russian oil of between $65 and $70 a barrel, with the aim of limiting revenue
representatives, scheduled for Nov
25 evening to discuss the issue, was cancelled, EU diplomats said
On Thursday, EU governments were split on the level at which to cap Russian oil prices.The price cap is due to come into effect on Dec
5 when an EU ban on Russian crude kicks off.Source - Reuters-Agencies
This article first appeared/also appeared in https://adaderana.lk
