Oil steadied after a decline, after poor economic data from China reinforced concerns about weakening demand in the world’s biggest crude importer.
West Texas Intermediate traded below $71 a barrel after slipping 0.8% on Monday, with Brent closing near $74. China’s top leaders have signaled stronger stimulus to boost domestic demand, although recent steps hinted Beijing will likely fall short of the kind of radical action analysts believe is needed to stem deflation.
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