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Oil Dips on Worries China Stimulus Plans Not Enough to Boost Demand

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Oil prices fell today as investors reassessed the ability of China’s stimulus plans to boost the economy enough to drive more fuel demand growth in the world’s largest crude importer.

Brent crude futures dropped 17 cents, or 0.2%, at $75 a barrel. US West Texas Intermediate crude fell 24 cents, or 0.3%, at $71.32 per barrel.

Prices rose about 1.7% on Tuesday after China announced its most aggressive economic stimulus since the COVID-19 pandemic, with interest rate cuts and government funding.

Source: Oman News Agency

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