Oil settles lower on weak China data, stronger US dollar
Written by Black Hot Fire Network on May 31, 2023
May 31 (Reuters) - Oil prices settled lower on Wednesday, pressured by a stronger U.S. dollar and weak data from top oil importer China that fed demand fears.
Brent crude futures for August delivery settled down $1.11 to $72.60 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $1.37, or 2%, to $68.09.
