Brent Crude Falls Below $112/B On Shaky Global Economy, Weak China

Published on Tuesday, 02 Oct 11:11 am

Brent crude fell below $112/B on Monday, reflecting investor concerns a shaky global economy may hurt oil demand, following fresh evidence of weaknesses in China and Japan as well as persistent worries about the debt-saddled euro zone. The drop also fueled by a stronger dollar, comes after the crude benchmark closed out the 3Q with its biggest three-month gain in 1-1/2 years, buoyed by supply risks in the Middle East and efforts among global central banks to stimulate flagging economies (Reuters). Front-month Brent futures fell 79 cents to $111.60/B, while US crude futures dropped 64 cents to $91.55/B.

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