scorecardresearchOil Retreats as Demand Concern, US Price-Cap Plan Dominate Trade

Oil Retreats as Demand Concern, US Price-Cap Plan Dominate Trade

Updated: 12 Sep 2022, 08:11 AM IST
TL;DR.
Oil declined at the start of the week amid mounting speculation that global demand is weakening, and as investors assessed a welter of details about a bold US-led plan to try to cap the price of Russian crude.
FILE PHOTO: An aerial view shows Vladimir Arsenyev tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/File Photo

FILE PHOTO: An aerial view shows Vladimir Arsenyev tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel/File Photo