Oil slips after Chinese GDP numbers stoke concern about demand
Refineries in the path of Tropical Storm Barry continue to operate despite flood threats while the storm has slashed US Gulf of Mexico crude output
15 July 2019 - 08:13
Singapore — Oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world’s largest crude oil importer.
Brent crude futures for September fell 21 cents to $66.51 a barrel in morning trading while US crude for August was down 28 cents at $59.93 a barrel. Both contracts last week posted their biggest weekly gains in three weeks on cuts in US oil production and diplomatic tensions in the Middle East...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.