Oil falls 1.6% as inventory gain and weak Chinese data weigh [MSNBC.com]
China Petroleum & Chemical Corporation (SNP)
US:NYSE Investor Relations:
cnpc.com.cn/en
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Source: MSNBC.com
Oil falls 1.6% as inventory gain and weak Chinese data weigh A man working in a filling station of Sinopec, China Petroleum and Chemical Corporation, in Shanghai, China, on March 22, 2018. Johannes EIsele | AFP | Getty Images Oil prices came under pressure on Thursday from rising U.S. crude oil stocks and weak factory activity in China, with few bullish factors on the horizon. Brent crude U.S. West Texas Intermediate (WTI) The front-month Brent contract for December delivery expires on Thursday. The one for January delivery was also down. Factory activity in China shrank for a sixth straight month in October while growth in the country's service sector activity was its slowest since February 2016, official data showed on Thursday. A protracted trade war between China and the United States has been weighing on the demand outlook for oil. Leaders from the United States and China encountered a new obstacle in their struggle to end the damaging trade conflict when the summit at which they
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