Brent futures drop as investors fear tighter central bank monetary policy will curb demand recovery
Singapore — Oil prices fell on Friday as investors worried that weakening global economic growth and tighter central bank monetary policy could curb a recovery in fuel demand.
While Bank of Japan policy runs counter to a global shift towards monetary tightening, central banks in the US, Britain and Australia raised interest rates recently. On the petrol supply side, South Korea’s third-largest refiner, S-Oil, halted production at its No 2 alkylation unit and related processes at its Onsan refinery due to a blast.
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