Amman– Oil prices remained close to their lowest level in two weeks on Tuesday after weak economic data from China and forecasts of rising temperatures elsewhere led to a decline in demand expectations.
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According to Bloomberg news agency, Brent crude futures rose by 12 cents to reach $77.20 per barrel, while U.S. West Texas Intermediate crude futures increased by 10 cents to $73.27.
China, the world’s largest importer of crude oil, reported an unexpected contraction in manufacturing activity for January, raising new concerns about global crude demand growth.
In the United States, weather forecasts indicate above-normal temperatures this week, which negatively affects demand for heating fuel, following previous surges in natural gas and diesel prices due to the extreme cold.
