Baghdad, Oil prices stabilized on Tuesday, breaking a five-day winning streak as markets refocused on demand concerns after OPEC lowered its 2024 demand growth forecast yesterday, Monday, due to weak expectations in China.
Brent crude futures fell 30 cents, or 0.36 percent, to $82 a barrel, while US West Texas Intermediate crude futures fell 29 cents, or 0.36 percent, to $79.77.
Brent crude rose more than three percent yesterday, Monday, while US crude futures rose more than four percent, amid expectations of an expansion of the conflict in the Middle East, which could lead to supply disruptions.
Source: National Iraqi News Agency