Oil falls as US inventories, demand growth concerns weigh on supply outlook


Oil fell more than 2 percent on Thursday as the market confronted concerns that global demand growth would lag in the coming year. A rebound from late December lows seemed to stall amid worries that a trade war between the US and China would continue, weighing on demand. The market also contended with the possibility that oil producers would not adhere strictly to cuts agreed to last year. Brent crude futures fell $1.35 a barrel, or 2.2 percent, to $61.

34 by 11:21 a.m. EST. US crude futures were down $1.65 a barrel, or 3.05.

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