Doha: Crude oil prices fell in early Asian trading on Tuesday as investors lowered their demand growth expectations due to the ongoing trade tensions between the United States and China. Brent crude futures fell by 25 cents, or 0.4%, to 65.61 per barrel. US West Texas Intermediate crude futures fell 18 cents, or 0.3%, to 61.87 a barrel.
According to Qatar News Agency, both benchmarks fell more than 1 on Monday, indicating a continuing trend of declining prices. The market sentiment has been affected by the prolonged trade disputes, which have raised concerns over potential slowdowns in global economic growth and consequently, a decrease in oil demand. The ongoing uncertainties have prompted investors to reassess their outlooks on future demand, leading to the observed decline in oil prices.