Oil Prices Fall amid Weak Demand, Supply Disruptions

Oil prices edged down today, as weak Chinese demand and supply disruptions, along with the risk of a global oversupply continued to weigh on the market. Brent crude futures were down 4 cents, or 0.06%, to $72.80 a barrel. US West Texas Intermediate crude futures lost 10 cents, or 0.15%, to trade at $68.60 a barrel. Both benchmarks gained around 1% at Monday's settlement. The US Energy Information Administration (EIA ) is due to release its short-term energy outlook which includes forecasts on the global market and US crude oil production. Source: Oman News Agency