Oil Falls on Fears Inflation May Dent Fuel Demand Growth

The International Monetary Fund cut its growth outlooks for U.S. and other major economies amid supply chain disruptions and cost pressures.

Sonali Paul, Reuters

Oil prices dropped on Oct. 13, after a mixed finish in the previous session, amid worries that soaring coal and natural gas prices in China, India and Europe will stoke inflation and slow global growth, reducing oil demand.

A strong U.S. dollar, trading near a one-year high, also weighed on oil prices, as it makes oil more expensive for those holding other currencies.

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