scorecardresearchOil lower on demand concerns, but new Iran sanctions cap downside

Oil lower on demand concerns, but new Iran sanctions cap downside

Updated: 17 Jun 2022, 08:33 AM IST
TL;DR.
Brent crude futures fell 47 cents, or 0.4%, to $119.34 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell to $117.02 a barrel, down 57 cents, or 0.5%.
LOS ANGELES, CALIFORNIA - MARCH 28: Oil pumpjacks are viewed in the Inglewood Oil Field on March 28, 2022 in Los Angeles, California. U.S. oil prices fell 7 percent to $105.96 per barrel while Brent crude lost 6.8 percent over demand concerns as China begins to implement a mass COVID-19 lockdown in Shanghai.   Mario Tama/Getty Images/AFP
== FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

LOS ANGELES, CALIFORNIA - MARCH 28: Oil pumpjacks are viewed in the Inglewood Oil Field on March 28, 2022 in Los Angeles, California. U.S. oil prices fell 7 percent to $105.96 per barrel while Brent crude lost 6.8 percent over demand concerns as China begins to implement a mass COVID-19 lockdown in Shanghai. Mario Tama/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==