Oil edged lower on disappointing Chinese economic data
International benchmarks for crude oil ended the first trading session of the week lower as disappointing Chinese economic data caused heavy demand concerns at the world’s largest oil importers.
International benchmarks for crude oil ended the first trading session of the week lower as disappointing Chinese economic data caused heavy demand concerns at the world’s largest oil importers.
Over the past week, oil climbed to multi-month highs on the support of bullish US economic news, OPEC+ supply restraint, and geopolitical tension in the Middle East and Europe.
Brent slipped 18 cents to close at $84.85/barrel.
WTI dropped 30 cents to settle at $81.91/barrel.
Written by: Rochelle Nguyen