International crude oil prices fell on May 29, closing a nearly 2-month low due to concerns about weak demand for gasoline in the United States.

Moreover, US economic data could lead the Federal Reserve System (FED) to keep interest rates higher for longer.

West Texas Intermediate (WTI) crude for July delivery decreased by US$0.6 (0.8%), reaching US$79.23/barrel on the New York Mercantile Exchange. Brent crude for July delivery declined by US$0.62 (0.7%), settling at US$83.60/barrel.