Markets

Brent Sinks on Chinese Inflation

Brent Crude Oil sunk on Friday morning after Chinese data showed that inflation was rising faster than expected in the number two oil consuming country. The commodity traded at $111.71 on Friday morning.

On Thursday afternoon, Brent spiked after Saudi Arabia cut its oil production to combat the market's oversupply and decreased demand. The cut brought Saudi production levels to their lowest since May 2011.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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