Business News

Oil Market Slips on Conflict Worries Ease, Positive US Business Data

global oil market

By Adedapo Adesanya The oil market fell on Wednesday as worries over conflict in the Middle East eased and business activity in the United States slowed, with Brent crude futures losing 40 cents or 0.45 per cent to settle at $88.02 a barrel, and the US West Texas Intermediate (WTI) crude futures down by 55 cents or 0.66 per cent to $82.81 per barrel. This reversed some of Brent’s gains earlier in the week, buoyed by a weaker US Dollar. The ease in previously high tension in the Middle East has led traders to see calmness ahead. According to investment