Oil prices decline as demand concerns persist

0 Comment(s)Print E-mail Xinhua, April 21, 2021
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NEW YORK, April 20 (Xinhua) -- Oil prices fell on Tuesday as demand worries returned to the market.

The West Texas Intermediate for May delivery lost 94 cents to settle at 62.44 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased 48 cents to close at 66.57 dollars a barrel on the London ICE Futures Exchange.

Traders also awaited U.S. crude stockpiles data as the U.S. Energy Information Administration (EIA) is set to release the nation's weekly petroleum status report on Wednesday.

Analysts expect the EIA to report a decline of 4.4 million barrels in crude inventories for the week ending April 16. Enditem

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