Oil prices fall 2% to two-month low on worries about US economy

Quick Summary:

NEW YORK: Oil prices fell about 2% to a two-month low on Tuesday on weak economic news from the U.S.and Germany that fed fears of slower energy demand, along with signs from several countries that oil output was on track to increase.

German election winner Friedrich Merz ruled out a quick reform to state borrowing limits known as the "debt brake," which some investors have urged to boost the economy.

If correct, that would be the first time energy firms added oil into storage for five weeks in a row since March 2024.

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Category: EconomyBusiness

Markets: MalaysiaCanadaGermanyIraqNigerNigeriaSaudi ArabiaTurkeyUkraine

Topics: WTI Commodities Gas Brent /Business/Business News Opec LNG Crude Oil

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-26 @ 08:26:00 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 553 words

Reading Time: 4 minutes read

Sentences: 20 lines

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Copyright Owner: © The Star

News ID: 26447010

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