Oil Prices Start the Week Lower as Demand Optimism Fades

Crude oil prices began trading with a loss this week as the momentum of last week’s robust demand expectations fizzled out following a U.S. consumer demand survey last Friday. The University of Michigan’s consumer sentiment index fell to 65.6 in June, from 69.1 in May as worries about inflation and income deepened, Reuters reported. As a result, the first day of trade this week saw Brent crude slip closer to $82 in mid-morning Asian trade while West Texas Intermediate approached $78 per barrel. “Last week's…