Oil Prices Fall Ahead Of China’s Economic Data Release
Oil prices dipped in early trading on 15 August as investors awaited crucial economic data from China, which is one of the world’s leading oil importers. US West Texas Intermediate crude fell by 0.13% or 11 cents, landing at $82.40 per barrel. Meanwhile, Brent crude futures slipped 8 cents, trading at $86.13 per barrel. China’s forthcoming release of July’s industrial production, investment, retail sales, and unemployment figures will be closely watched after recent signals pointed to an economic slowdown. As China’s economy shows signs of slowing, analysts from the Eurasia Group suggest a possible oil price ceiling this year.
Source: https://www.reuters.com/business/energy/oil-prices-down-ahead-key-economic-data-china-2023-08-15/
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