Oil Mixed, Fears of Slower Demand Weigh on Sentiment

Oil prices were mixed on Tuesday, as some investors scooped up bargains following recent losses, while Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand and weighed on sentiment.
Brent crude futures for November rose 31 cents, or 0.4%, to $72.53 a barrel, after falling 39 cents on Monday, CNBC reported.
US West Texas Intermediate crude for October was at $69.14 a barrel, down 15 cents, or 0.2%, from Friday's close, with no settlement price for Monday due to Labor Day holiday in the United States.
Demand woes grew 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 $1 a barrel.
The deep price cuts, a sign that consumption in the world's top-importing region remains tepid, come as lockdowns across Asia to combat the delta variant of the coronavirus have clouded the economic outlook.