SYDNEY (Reuters) – Crude oil prices fell on Friday, pressured by concerns over the outlook for global economic growth.
U.S. West Texas Intermediate (WTI) crude futures were down 1.1% at $56.71 per barrel by 0042 GMT.
Brent - Crude - Futures - % - Barrel
Front-month Brent crude futures were down 0.1% at $63.23 per barrel, after closing down 0.8% on Thursday.
“Concerns over weaker demand outweighed the supply issues,” ANZ Bank said in a research note.
Data - Week - Scene - Outlook
“Weak economic data earlier in the week set the scene for the bearish outlook.”
New orders for U.S. factory goods fell for a second straight month in May, government data showed on Wednesday, stoking economic concerns.
US - Energy - Information - Administration
The U.S. Energy Information Administration on...
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