Crude Oil Price Drops to 4-week Low

Brent crude prices fell more than 1% to a four-week low of $43.54 a barrel on Thursday, as fuel demand tumbled in the United States last week which offset a much larger than expected draw in crude oil inventories.

Latest data from the EIA showed US gasoline demand fell to 8.78 million barrels per day last week from 9.16 million bpd a week earlier.

Also, fears that the economic recovery was lagging as US data showed private employers hired fewer workers than expected for the second straight month in August weighed on sentiment.
Trading Economics


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