Oil prices dive sharply as US data shows weak demand

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Oil prices dropped more than 4% on Wednesday due to reports of Russia potentially lifting its diesel ban and weak gasoline demand in the US. Brent crude oil futures fell by 4.3% to settle at $87.04 per barrel, while US West Texas Intermediate crude dropped by 4.3% to $85.36. The decline in prices is coinciding with concerns about high interest rates and the global economy.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SjD1iK5

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