China demand

Oil prices dropped nearly 2% amid concerns over weakening demand from China and ongoing tensions in the Middle East, capping a volatile week in global oil markets.

Oil prices dropped 1.5% due to declining Chinese demand and potential easing of Middle East tensions, with Brent and WTI crude ending the week lower.

Oil prices rose for a third consecutive session on Monday, reaching their highest levels since November, as Saudi Arabia and Russia extended their supply cuts and China’s economic recovery boosted …