Reuters: Oil falls again amid concerns over demand rebound.

REUTERS

REUTERS

Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China's oil imports fell in May.

Brent crude was down 11 cents, or 0.2%, at $71.38 a barrel by 0151 GMT, after declining 0.6% overnight. U.S. oil was off by 13 cents, or 0.2%, at $69.10 a barrel, having dropped by 0.6% in the previous session, as reported by Reuters.

China's crude imports were down 14.6% in May, from a high level a year earlier, with daily arrivals at the lowest level this year, as maintenance at refineries limited demand for oil purchases.

Read also Zelensky on Nord Stream 2 decision: 'Biden is a Jordan in politics' Crude prices have risen in recent weeks, with Brent up by nearly 40% this year and WTI gaining more than that, amid expectations of demand to return as some countries succeed in vaccinating populations against COVID-19.

Restraint on supply by the Organization of the Petroleum Exporting Countries and allies has also helped buttress prices.

But major oil importers like India have been going through waves of infections that continue to threaten the expected pickup in global demand in the second half of this year.

More news reports

Reporting by UNIAN

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

Related news
Finance Ministry places government bonds for UAH 11.

Finance Ministry places government bonds for UAH 11.

On June 22, 2021, the Ukrainian Finance Ministry raised UAH 11.4 billion towards the state budget as a result of auctions on the placement of domestic government bonds, the Finance Ministry wrote on its Facebook page.

UkrInform

Fauci is a Democratic activist, not a neutral public health expert: Tom Cotton.

Fauci is a Democratic activist, not a neutral public health expert: Tom Cotton.

The Republican senator says Dr. Fauci's priorities seemed more focused on protecting his reputation than providing information about China. Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a ...

Pride Month Love Stories: Couple fights for same-sex marriage in India.

Pride Month Love Stories: Couple fights for same-sex marriage in India.

When Vaibhav Jain moved to Washington, D.C., from India, he went to his first Pride parade – and his life changed forever. He met his future husband, and now the two are fighting for other same-sex couples in India. CBSN is CBS News’ 24/7 digital ...

Delta COVID-19 Variant Could Cause Fall Surge, U.S. Officials Warn

Delta COVID-19 Variant Could Cause Fall Surge, U.S. Officials Warn

As states across the country continue to lift remaining Covid-19 restrictions, health officials are warning that the delta variant, first detected in India, could cause a surge of Covid-19 cases in the fall. NBC News medical contributor, Dr. Natal...

Descendants of historic Black leaders share legacies l ABC News.

Descendants of historic Black leaders share legacies l ABC News.

On Juneteenth, descendants of Frederick Douglass, Booker T. Washington, Ida B. Wells and Malcolm X share how their ancestors risked their lives for justice and how their work continues today. READ MORE: #ABCNews #Juneteenth #BlackLeaders

New Yorkers to Cast Votes in Mayoral Primary

New Yorkers to Cast Votes in Mayoral Primary

Voters head to polls Tuesday for a primary election as part of a process to select a new mayor of America’s biggest city

EU approves new sanctions on Belarus - What impact will they have? - DW News.

EU approves new sanctions on Belarus - What impact will they have? - DW News.

00:00 New EU sanctions follow forced grounding of airliner The EU has approved new sanctions against Belarus — ratcheting up the pressure on its leader after the forced landing of a plane. The measures hit over 80 people and organizations with ass...