Oil falls as demand worries re-emerge, crews return to U.S. Gulf rigs
Oil prices fell on Thursday, after rising in the two previous sessions, as concerns about weak fuel demand re-emerged after production platforms in the southeastern United States took steps to resume output following Hurricane Sally’s passage, according to Reuters.
Brent crude futures fell 36 cents, or 0.8%, to $41.86 a barrel at 0355 GMT, after climbing 4.2% on Wednesday.
U.S. West Texas Intermediate (WTI) crude futures were down 43 cents, or 1.1%, to $39.73 a barrel , after jumping 4.9% on Wednesday.
OPEC+ agreed in July to cut output by 7.7 million bpd, or around 8%, of global demand from August through December. Iraq and others agreed to pump below their quotas in September to compensate for overproduction earlier this year.