Brent crude oil prices dip on weak Asian economies

Brent crude oil prices dipped on Tuesday as Asia’s economies showed more signs of weakness, while U.S. prices edged up on the back of U.S. peak demand summer driving season.

Front-month Brent futures were down 2 cents at $66.25 a barrel by 0143 GMT, following a 64 cents fall in the previous session on the back of near-record Saudi exports.

AAA expected 37.2 million people would journey 50 miles (80 km) or more from home during the May 21-25 period, a 4.7 percent jump from the 35.5 million who travelled for the holiday weekend last year and the most Memorial Day-related traffic since 2005.

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Posted in: Indian Market Tips