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/
This newsletter is for information purposes only.
Its contents do not constitute legal advice and it should not be regarded as a substitute for detailed advice in individual cases. Transmission of this information is not intended to create and receipt does not constitute a lawyer-client relationship between Charltons and the user or browser. Charltons is not responsible for any third party content which can be accessed through the website.
If you do not wish to receive this newsletter please let us know by emailing us at unsubscribe@charltonslaw.com