Oil slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved, with an ongoing trade war with the United States weighing on demand growth for the world’s largest crude importer.
Brent crude futures were down 91 cents or 1.5% at $61 a barrel. U.S. West Texas Intermediate (WTI) crude futures were 61 cents or 1.1% lower at $55.30 a barrel.
China’s official Purchasing Managers’ Index (PMI) rose to 49.8 in September, slightly better than expected and advancing from 49.5 in August.
Source : Reuters