Oil prices declined in Asia on Thursday as investors exercised caution amid expectations of reduced demand. Weaker-than-expected U.S. employment and business data suggested a potential cooling of the economy for the world's leading oil consumer.
Brent crude futures dropped 48 cents to $86.86 per barrel, a decrease of 0.55%. Similarly, U.S. West Texas Intermediate (WTI) crude futures fell 51 cents to $83.36 per barrel, marking a 0.62% decline. Trading activity was subdued due to the U.S. Independence Day holiday.
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