Markets > Commodities

Oil prices decline amid demand fears

2019-10-15 04:41

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NEW YORK, Oct. 14 (Xinhua) -- Oil prices retreated on Monday as demand fears continued.

The International Energy Agency cut its headline oil demand growth number by 0.1 million barrels per day for both 2019 and 2020 in its latest monthly oil market report.

In addition, trade uncertainties among world's major economies have pressured oil prices, said analysts.

The West Texas Intermediate (WTI) for November delivery declined 1.11 U.S. dollars to settle at 53.59 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery erased 1.16 dollars to close at 59.35 dollars a barrel on the London ICE Futures Exchange.
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