Market Chatter: Oil Falls a Second Day as China Industrial Growth Slows
"Oil dropped as China's industrial production trailed estimates and after Saudi Arabian crude output climbed from a 20-month low last month," Bloomberg reported.
It said: "Futures in New York fell as much as 1.2% after Chinese government data showed the world's second-biggest oil- consuming nation started the year with the weakest industrial growth since 2009."
"Crude oil for April delivery fell 89 cents, or 1%, to $91.06 a barrel on the New York Mercantile Exchange. Futures are down 1.1% this month. Brent oil for April settlement dropped 98 cents, or 0.9%, to $109.87 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.
