Oil settled lower on disappointing Chinese data, softer US dollar

International benchmarks for crude oil settled lower on Monday, 24 October 2022 as investors were concerned about China’s disappointing retail sales figures and slower export growth rates. Besides, business activities in the US eased slightly, prompting expectations that the FED might be less aggressive in lifting interest rates this November.

Brent settled at $93.26/barrel, down 24 cents.

WTI closed at $84.58/barrel, down 47 cents.