Oil prices down due to lack of economic indications from key consumer

Oil prices edged down yesterday amid uncertain demand outlook and a lack of fresh economic indicators from key consumer China. Brent Crude was trading low by 0.3 percent at 74 dollars and 55 cents per barrel, and WTI Crude fell 0.2 percent to trade at around 70 dollars and 55 cents per barrel when reports last came



in. 

Yesterday, US President Donald Trump hit Iran with the second set of sanctions this month. The US-sanctioned oil brokers in the United Arab Emirates and Hong Kong, tanker operators and shipping companies in India, and the head of Iran’s National Iranian Oil Company for their role in transporting Iranian oil.