Oil Drops on Strong Dollar, Weak China Demand Prospects
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 20 2024
0mins
Source: WSJ
Oil Prices Decline: Oil prices have dropped in early Asian trade due to a stronger dollar and weak demand outlook in China, with WTI at $69.03/bbl and Brent at $72.47/bbl.
China's Demand Concerns: Sinopec has indicated that gasoline demand in China may have peaked, largely influenced by the rise of electric vehicle sales surpassing traditional combustion-engine vehicles for the first time.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
