Oil extended falling trend after disappointing Chinese economic data
Oil extended falling trend after disappointing Chinese economic data
International benchmarks for crude oil extended the losses on Monday, 15 August 2022 after disappointing retail, investment, and industrial outputs data from China. Investors become heavily concerned as China cut lending rates to revive demand.
Brent loses $3.05 or 3.1% to settle at $95.10/barrel.
WTI dropped $2.68 or 2.9% to close at $89/4/barrel.