Oil prices erased some of its recent gains as traders apparently booked profits after the commodity climbed to a more than one-month high. Besides, global economic concerns weighing down demand coupled with sharp production cuts by OPEC are further adding pressure on crude oil prices. Meanwhile renewed COVID led lockdowns in parts of China, the worlds largest crude importer is adding to demand fears. WTI crude oil futures are currently lower by 0.34% at $90.82 per barrel. Powered by Commodity Insights
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