Oil Falls As Glut fears Return, China Data Eyed

Crude futures fell in early trading in Asia on Friday as concerns about a global oil glut returned to the fore and traders wait on data from China, which is expected to report its lowest growth rate since 2009. 

 

Brent crude futures were down 41 cents at USD 46.96 a barrel at 0024 GMT. On Thursday they settled up USD 1.11, or 2.4 %, at USD 47.37 a barrel, supported by short covering. 

 

U.S. West Texas Intermediate (WTI) was down 40 cents at USD 45.28 a barrel. The contract rose 93 cents, or 2.1 %, to end at USD 45.68 a barrel in the previous session.

                         China is expected to post its weakest quarterly economic growth since the global financial crisis on Friday, raising pressure on policymakers to take more steps to bolster demand. The data is due at 0200 GMT.

 

For More Information Stock advisory company indore,stock market news,Mcx market tips,Best stock advisory company in indore,Stock Option Tips, F&O Tips,Nifty Option Tips,Bullion tips And call us :-9827808090.

You May Also Like

0 comments

Note: only a member of this blog may post a comment.