Brent Below $99/B On China Data, Norway Strike Halt

Published on Wednesday, 11 Jul 10:37 am

Brent crude fell below $99/B on Tuesday, over concerns about demand growth after China crude imports weakened in June, while worries of supply disruptions eased after a halt in the Norwegian oil labor strike. China imported 15% less in June than the same month a year ago, as refiners cut purchases amid slowing oil demand. China accounted for more than half of the world’s oil consumption growth last year. Brent was down $1.98 to $98.34/B, while US crude fell $1.29 to $84.70/B.

Log in or register to post a comment

There are no comments yet.