US oil price sinks 5% on demand concerns

LONDON, United Kingdom - US crude oil prices briefly sank more than five percent on Wednesday, weighed down by demand fears linked to disappointing US data and surging Chinese COVID infections.

The main US oil contract, West Texas Intermediate, later stood at $77.32 per barrel, down 4.5 percent. Europe's Brent North Sea crude shed 4.3 percent to $84.53. -- Agence France-Presse