Oil Updates — Crude prices slide; Russian oil cap botch could see prices hit $140; India’s Russian oil imports surges

RIYADH: Oil prices fell on Tuesday as fresh COVID-19 curbs in China, the world’s biggest crude importer, and fears of a global economic slowdown weighed on the fuel demand outlook.

Brent crude futures for September fell $1.35, or 1.3 percent, to $105.75 a barrel by 0305 GMT, while US West Texas Intermediate crude for August delivery was at $102.64 a barrel, down $1.45, or 1.4 percent.

Russian oil price cap failure could jack up oil prices