Oil Falls on Russian Diesel and Gulf Supply Risks
Oil prices declined as traders weighed potential Russian diesel supplies against ongoing energy risks in the Gulf. Brent crude fell to 105.35 dollars a barrel while WTI dropped to 92.49 dollars. Meanwhile, OPEC slashed its demand growth forecast for the year.
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Brent Crude Oil fell $1.30, or 1.2%, to $105.35 a barrel during the morning session, breaking a six-session winning streak. The drop comes as traders weighed new diesel supply prospects from Russia against persistent security risks in the Middle East. Both global benchmarks retreated after climbing to multi-week highs in the previous session.
