Oil prices fall over 2% on China demand concerns
Oil prices fall over 2% on China demand concerns
Oil prices dropped more than 2% on Monday, erasing last week's gains due to concerns over weak demand from China.
Oil prices dropped more than 2% on Monday, erasing last week's gains due to concerns over weak demand from China.
Despite the ongoing conflict in the Middle East, investors are now focusing on China's economic performance, with the government's new stimulus program taking center stage. However, China's September deflation worsened, and a weekend press conference provided little clarity on the scope of its stimulus plans.
West Texas Intermediate (WTI) for settlements in November fell by 2.33% at 5:35 am ET, selling for $73.80 per barrel. Brent for December deliveries slipped by 2.25% and sold for $77.24 per barrel.
Baha Breaking News (BBN) / JG
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JATrader : BB in full control to shot it down, keep long at 7200, short for now
EZ_money : Biden is doing everything they can to keep oil down
EZ_money : and Biden never filled up our reserves we're at an all time low since mid 70-80s because he sold it off to keep prices down and boost GDP
EZ_money : we're dangerously low in the reserves
JonSnow OP JATrader : BB?
JATrader JonSnow OP : big boys