Crude Oil Slips Amid Demand Concerns

0116 GMT — Crude-oil prices fall in early Asian trade. The price of the commodity could be pressured by concerns on whether demand growth will persist, says ANZ analysts in a note. There has been a drop in buying of Kazakhstan’s CPC Blend crude, which has been a mainstay of buyers in China and South Korea, the analysts note. Meanwhile, supply risks are continuing to mount, as Canada’s main oil producing region in northwestern Alberta faces increased risks from wildfires, ANZ says. The front-month WTI futures contract and Brent crude futures are each 0.3% lower at $69.82/bbl and $73.91/bbl, respectively. (yiwei.wong@wsj.com)