Singapore-SANA
Oil prices fell today amid caution over U.S. debt ceiling talks and concerns about a recovering demand in China, which outweighed the impact of lower supplies from Canada and OPEC plus producers.
Reuters reported that Brent crude futures fell 73 cents, or 0.97 percent, to $74.85 a barrel, and U.S. West Texas Intermediate crude for July delivery, the most traded futures, fell 73 cents, or 1.02 percent, to $70.96.
June WTI crude contracts, which expire later in the day, fell 87 cents to $70.68.
Last week, crude rose about two percent in their first weekly gain in five weeks, after wildfires in Alberta, Canada, disrupted large amounts of crude oil supplies.
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