Oil Prices Eased of the Second Session

Oil prices eased for a second day session on Friday after concerns grew Washington might again come in to calm down prices and also due to movement restrictions in China caused concerns on demand.

Brent crude oil futures fell 0.13% to $84.36 per barrel while U.S. West Texas Intermediate crude was down by 0.37% to $81.82 per barrel.

China is world’s second consumer of oil globally has suspended flights and enforced movement restrictions which puts demand of oil in question.

Many cities including Beijing asked residents to stay indoor during lunar year which might dampen demand for transport fuel.