Oil prices fell in Asian trading today, continuing the losses incurred in the previous session, at a time when weak economic data coming from China and expectations of raising US interest rates cast a shadow over the market.
Brent crude fell 24 cents, or 0.3%, to $79.07 a barrel, and US West Texas Intermediate crude fell 25 cents, or 0.3%, to $75.41 a barrel.
Both benchmarks fell more than a dollar in their latest session.
The Federal Reserve (the US central bank) is expected to raise interest rates by another 25 basis points, and this raise, which central banks are doing to combat inflation, may affect oil through slowing economic growth and declining demand for energy.
