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- Oil fell for the first time in four days
Oil fell for the first time in four days
Oil fell for the first time in four days after Chinese economic data signaled slower growth in the world’s second-largest user of oil.
Futures dropped from a one-week high after China said on March 10 that the country had its biggest trade deficit last month in at least 22 years. Government data also showed that China, the biggest consumer of crude after the U.S., had the weakest January-February factory-production gain since 2009 and retail sales below expectations.
Crude for April delivery declined to $105.38 a barrel on the New York Mercantile Exchange.
Brent oil for April settlement on the London-based ICE Futures Europe exchange slid $1, or 0.8 percent, to $124.98.
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