Oil Prices Fall On Disappointing US Economic Data

Published on Wednesday, 05 Sep 15:53 pm

Benchmark crude oil prices decreased on 4 September after weak US manufacturing data fed concerns about the pace of global economic recovery. With hopes fading for any decision by the European Central Bank this week in favor of further economic stimulus, traders were wary of the impact of high prices on oil demand. WTI crude fell by $1.17/B to settle at $95.30/B, while Brent crude declined by $1.60/B to settle at $114.18/B.

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