Crude oil falls on China lockdown fears, higher-than-expected US inflation

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Crude oil futures were lower in midmorning Asian trade June 13, as pandemic-related concerns in China, coupled with a higher-than-expected US inflation report weighed on sentiment. At 10:53 am Singapore time (0253 GMT), the ICE August Brent futures contract was down $1.84/b (1.51%) from the previous close at $120.17/b, while the NYMEX July light sweet crude contract fell $1.83/b (1.52%)…