adminNew York’s main contract, light sweet crude for delivery in April fell US22c to US$91,84 a barrel in afternoon trade and Brent North Sea crude for April delivery was down US38c at US$109,84.
Analysts said sentiment was dampened by concerns over data signalling a slowdown in China, the world’s second biggest economy. Chinese inflation hit a 10-month high in February while growth in industrial production and retail sales eased, according to official data released on Saturday.
“The data releases over the weekend suggest that China’s economic rebound is faltering sooner than even we had expected,” an analyst said. – AFP.
Online Reporter