Posted on 07/15/2021 11:49:15 PM PDT by nickcarraway
Oil prices declined on Wednesday after data showed a drop in China’s half-year crude imports while expectations for a further tightening of US inventories offered support.
Brent crude was down 38 cents, or 0.5 percent, at $76.11 a barrel by 0820 GMT. West Texas Intermediate was off by 46 cents, or 0.6 percent, at $74.79 a barrel.
China’s crude imports dropped by 3 percent from January to June compared with a year earlier, the first such contraction since 2013, as import quota shortages, refinery maintenance and rising global prices curbed buying.
(Excerpt) Read more at english.alarabiya.net ...
Why I wonder?
The only thing that means something is that I’m paying $1 more per gallon than 2 months ago.
Energy demand drop after outlawing crypto farming?
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