Brent Falls Under $108/B On China Data, Saudi Pledge

Published on Friday, 21 Sep 11:18 am

Brent crude eased below $108/B on Thursday, after data showed China’s manufacturing activity continued to contract, weakening sentiment further in a market already affected by Saudi Arabia’s pledge to keep global oil prices low. US crude futures dropped to a six-week low after data showed crude stockpiles had jumped far more than expected last week due to a surge in imports (Reuters). Brent November crude eased 38 cents to $107.81/B, while US October crude, which expires later Thursday, was down 96 cents to $91.02/B.

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