TOKYO : Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia's sharp cuts to crude contract prices for Asia.
Demand woes were in the news again after state oil group Saudi Aramco notified customers that it will cut October official selling prices for all crude grades sold to Asia by at least US$1 a barrel. "It's quiet in Asia trade amid uncertainty over the direction of the market going forward," said Toshitaka Tazawa, an analyst at Fujitomi Securities Co Ltd.
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Cause Asia is hurting and US diplomacy is with the Taliban. Hard times..