CRUDE OIL prices lower on demand worries   


Sep 12 (Lagos) - Crude oil prices fell as China imposed fresh covid-19 lockdowns forcing people to stay at home. Apart from this, analysts also worried over the impact of high interest rates in USA which make the US Dollar stronger against other currencies and also impacts crude oil trade because crude oil is traded in USD.


Brent crude oil price declined to $91.60/barrel at the time of writing this article while NYMEX WTI crude was down at $85.50/barrel in early morning trades. 


Some analysts are expecting crude oil prices to decline further going into November when there are mid-term elections in the US that will decide who will control the US senate. Voters in the USA have seen a steep decline in almost all sectors since the current administration took office and they are likely to express their feelings in November and lower crude oil prices could help sway those votes in favor of the current administration. 
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