Business

Oil Slips on Demand Concerns

Oil prices fell on Tuesday on worries that further possible US interest rate hikes could pull down demand against supply concerns emanating from a hurricane hurtling towards the US gulf coast.

Brent crude was 19 cents lower at $84.23 a barrel, while US West Texas Intermediate crude shed 24 cents to $79.86.

Investors await key US economic data later this week that will help determine the path of interest rates this year and next.

Source: Qatar News Agency