Oil prices fell on Wednesday as investors reassessed the ability of China’s stimulus programs to boost the economy enough to spur higher fuel demand growth in the world’s biggest crude importer.
Brent crude futures were down 17 cents, or 0.2%, at $75 a barrel. U.S. West Texas Intermediate crude was down 24 cents, or 0.3%, at $71.32 a barrel.
However, confidence in the world’s second-largest economy needs more financial support to boost confidence, and this has had an impact on oil prices.
However, the U.S. Declining crude and fuel stockpiles provided some support to the market, which has generally rallied as prices fell to their lowest level since 2021 on September 10. Back on Tuesday, U.S. oil inventories fell by 4.34 million barrels,
