Oil Updates — Crude prices slip; China’s October oil imports rebound; Kuwait state oil firms get new CEOs 


Mon, 2022-11-07 08:45

RIYADH: Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world’s top crude importer. 

Brent crude futures dropped $1.04, or 1.06 percent, to $97.53 a barrel by 08.10 a.m. Saudi time, after hitting as low as $96.50 earlier.  

US West Texas Intermediate crude was at $91.39 a barrel, down $1.22, or 1.32 percent, dropping to a session low of $90.40 a barrel earlier in the session. 

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