Markets

Weak Manufacturing Data Across the Globe Pressures Brent Prices

Brent crude oil fell under pressure on Wednesday morning after weak data and growing inventories worried investors. The commodity fell for a second day and traded at $110.19 at 9:00 GMT.

According to CNBC , American reserves grew by 4.7 million barrels last weekend, much higher than the 2.2 million barrels originally forecast. This increase could suggest that the number one oil consuming nation's economy is still struggling to recover in the wake of a financial crisis.

Read More on International Business Times

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.

Other Topics

Commodities

Latest Markets Videos