Singapore-Sana
Oil falls on settlement amid fears of an increase in US supply and a decrease in Chinese demand, and Reuters reported that oil prices fell at the settlement, amid fears of an increase in US supply, along with an economic slowdown and a decrease in Chinese demand for fuel, and Brent crude futures fell $1.95, or 1.7 percent, when settling to $90.30 a barrel, while US West Texas Intermediate crude fell $2.64, or 3.1 percent, to $82.82 a barrel, and China, the world's largest importer of crude oil, indefinitely postponed the release of economic indicators, indicating to the market that demand for fuel is significantly low in the region.
Oil prices were also pressured by reports that the US government will continue to draw crude oil from reserves, and a survey showed that US crude oil inventories are expected to rise for the second week in a row.
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