ANKARA – Oil prices dipped on Wednesday amid concerns over China’s economic growth and the strength of the US dollar. The international benchmark crude Brent traded at $77.68 per barrel at 0723 GMT, a 0.77% decrease from the closing price of $78.29 a barrel in the previous trading session on Tuesday. The American benchmark, West Texas Intermediate (WTI), traded at the same time at $71.85 per barrel, down 0.92% from Tuesday’s close of $72.52 per barrel. The US dollar’s strength, following the Federal Reserve’s hints at less aggressive interest rate cuts, has made oil more expensive for buyers using other currencies, potentially dampening demand.
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