Crude falls; Petrol, diesel prices rise in Sudan

Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the US, the world’s biggest oil user, may limit fuel demand growth.

Brent crude futures for September settlement dropped 48 cents, or 0.5 percent, to $102.72 a barrel at 0205 GMT, down for a fourth day.

US West Texas Intermediate crude futures for September delivery fell 65 cents, or 0.7 percent, to $94.05 a barrel, also down for the fourth day.

Prices of petrol and diesel rise in Sudan

Petrol prices in Sudan rose on Saturday by 90 Sudanese pounds to 760 pounds ($1.34) per liter, the country’s oil ministry said in a statement.

Diesel prices increased by 108 pounds to 748 pounds per liter.

There were repeated fuel price hikes last year as Sudan completed a process of phasing out subsidies on fuel, which is now meant to follow global prices.