​​Brent crude is under pressure from demand problems

Brent crude oil is testing its September-November support line and the 55-day simple moving average (SMA) at $91.90 as demand concerns amid resurgent Covid-19 outbreaks in key crude oil importer China outweigh signs of supply tightening heading into winter .

On Monday, the price of Brent crude slipped over 3% and around $4 a barrel as OPEC further scaled back its forecasts for global oil demand growth for 2022 and 2023, citing rising…

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