Oil prices fall on disappointing economic data from Europe and China [Reuters]
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Source: Reuters
Oil prices fall on disappointing economic data from Europe and China - Reuters 3 Min Read LONDON (Reuters) - Oil prices fell on Wednesday on disappointing economic data from China and Europe and a rise in U.S. crude inventories, partly erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products. Brent crude LCOc1 was down 49 cents, or 0.8%, at $60.81 a barrel at 0954 GMT, after rising 4.7% on Tuesday, the biggest percentage gain since December. U.S. West Texas Intermediate (WTI) crude future CLc1 was down 73 cents, or 1.3%, at $56.37 a barrel, having risen 4% the previous session, the most in just over a month. China reported a raft of unexpectedly weak data for July, including a surprise drop in industrial output growth to a more than 17-year low, underlining widening economic cracks as the trade war with the United States intensifies. “This morning’s Chinese industrial production came in below expectations confirming our ex
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