Reported 23 days ago
Oil prices remain steady as declining exports from Libya help counteract the impact of worsening economic indicators from China. Brent crude is trading near $72 a barrel, while West Texas Intermediate approaches $69, following a notable drop in Libyan oil exports due to stalled negotiations over the central bank. Chinese data reveals significant drops in industrial output and investment, undermining expectations for economic growth. Analysts suggest that demand weakness in China may continue until governmental measures to stimulate the economy are enacted.
Source: YAHOO