|
Oil drops on weak Chinese growth data, Brent slumps below $60
Oil prices extended losses during trading session today, giving back earlier gains, after the release of weak Chinese data that sparked concerns about China's demand.
The Chinese Government showed today that the GDP grew by 6% during the third quarter, lower than market forecasts of 6.1%.
Otherwise, Baker Hughes Co announced today that the US crude oil drilling rigs count increased by 1 to 713 rigs during this week.
The dollar index fell against a basket of major currencies by 0.3% to 97.3 points as of 17:28 GMT, with an intraday high of 97.6 and a low of 97.2 points.
WTI fell by 0.8% to $53.5 as of 17:21 GMT, with a session-high of $54.6 and a low of $53.3.
Brent fell by 1.3% to $59.1 a barrel, with a high of $60.2 and a low of $59.01.
Thanks for your feedback.
US oil drilling rigs count rises slightly
Baker Hughes Co announced today that the US crude oil drilling rigs count increased by 1 rigs to 713 during this week.
MoreCopper rises after Chinese data
Copper prices rose during trading hours today, after the release of Chinese data about the infrastructure and housing property market.
MoreBitcoin plumbs 2-week low amid negative sentiment
Bitcoin price slumped in spot trading on Friday, to resume its losses after a breather yesterday, to break back below the $8,000 barrier and hit a 2-week trough, as market sentiment remained negative, which is reflected in the decline of Bitcoin's dominance over the crypto market to its lowest level in 2 and a half months.
More