TOKYO – Oil prices fell in early trade on Thursday, extending losses to a fourth consecutive session on fears of slowing growth in China and possible further U.S. interest rate hikes weakening fuel demand in the world’s two biggest economies.
Brent crude futures fell 37 cents, or 0.44 percent, to $83.08 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 39 cents, or 0.49 percent, to $78.99 a barrel at 0038 GMT.
Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China’s deepening property sector crisis is stifling what little momentum the economy has left.
China’s central bank unexpectedly cut…
Keep on reading: Oil prices down on weaker growth in China, US rate hike jitters