Oil slips as U.S. debt caution offset supply concerns

Oil slips as U.S. debt caution offset supply concerns
# 22 May 2023 09:25 (UTC +04:00)

Oil prices slipped on Monday as caution around the U.S. debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers, APA reports citing Reuters.

Brent crude futures fell 48 cents, or 0.6%, to $75.10 a barrel by 0201 GMT while U.S. West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, fell 45 cents, or 0.6%, to $71.24.

The June WTI contract , which expires later on Monday, fell 52 cents to $71.03 a barrel.

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