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Oil Prices Fall Amid China Economy Worries, Lingering Supply Glut


Friday, 14 December 2018 13:46 WIB

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Oil prices dipped on Friday amid concerns over slowing economic growth in China and as investors cashed in on gains of over 2 percent from the previous session, although supply cuts agreed last week by major crude producers offered some support.

Brent crude futures were at $61.08 per barrel at 0530 GMT, down 37 cents, or 0.6 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $52.42 per barrel, down 16 cents, or 0.3 percent, from their settlement.

China, the world's No.2 economy and the largest crude importer, on Friday reported some of its slowest growth in retail sales and industrial output in years, highlighting the risks of the country's trade dispute with the United States.

Source : Reuters


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