Post: Oil Falls on Concerns of Weaker Demand Forecasts

Oil prices fell in Asia on Thursday, with investors turning cautious on expectations of lower demand as US employment and business data came in weaker than forecast, signalling the economy of the world's top oil consumer may be cooling. Brent crude futures were down 48 cents, or 0.55%, at $86.86 a barrel, while US West Texas Intermediate (WTI) crude futures fell 51 cents, or 0.62%, to $83.36. US crude shipments bound for Europe fell to a two-year low in June as European buyers bought cheaper regional and West African oil, though some rebound in purchases in July and August could still happen. Source: Qatar News Agency