4/30, 1:16 PM (Source: TeleTrader)
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Crude prices down over 1% on demand concerns

Oil prices fell on Friday on the back of demand concerns prompted this week by weak economic data from China and rising coronavirus cases, particularly in hard-hit India, one of the world's largest crude importers.

Earlier, it was revealed factory activity growth in China slowed more than expected, adding more pressure on crude prices amid renewed fears over virus lockdowns in several countries.

Brent for June was down 1.47% to $67.53 per barrel at 7:00 am ET. Meanwhile, West Texas Intermediate for June delivery lost 1.85% to $63.81 per barrel.

Breaking the News / JC