US crude drops to US$59.93

Business | 15 Jul 2019 11:00 am

Oil prices slipped today after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world’s largest crude oil importer.

Brent crude futures for September fell 21 US cents to US$66.51 a barrel, while U.S. crude for August was down 28 US cents at US$59.93 a barrel. Both contracts last week posted their biggest weekly gains in three weeks on cuts in U.S. oil production and diplomatic tensions in the Middle East.

 

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