Markets

Market Chatter: Crude Drops Below $90 on Signs of Slowing Chinese Growth

"West Texas Intermediate crude fell below $90 a barrel for the first time in more than two months as service industries in China expanded at the slowest pace in five months in February," Bloomberg reported.

It said: "Prices declined for a third day as the expansion of the non-manufacturing industry in China, the world's second-largest oil-consuming country after the U.S., was the slowest since September after a gauge of new orders declined."

"WTI for April delivery slid 90 cents, or 1%, to $89.78 a barrel on the New York Mercantile Exchange. Oil closed at $90.68 on March 1, the lowest settlement since Dec. 24. Brent for April settlement dropped 60 cents to $109.80 a barrel on the London-based ICE Futures Europe exchange. "

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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.

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