Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world's biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook, Reuters reported.
Brent crude futures for September fell $1.35, or 1.3%, to $105.75 a barrel by 0305 GMT, while U.S. West Texas Intermediate crude for August delivery was at $102.64 a barrel, down $1.45, or 1.4%.
"Growing fears of a recession and continued sluggish demand in China are pulling oil prices lower, though the current supply-demand balances remain precarious," analysts from consultancy Eurasia Group said in a note.
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