Oil Falls Below $92 After Weak China Trade Data
Oil prices fell below $92 a barrel Friday as weak Chinese figures suggested growth continues to slow in the world’s second-largest economy and the International Energy Agency lowered its forecast for global crude demand.
By early afternoon in Europe, benchmark crude was down $1.43 to $91.93 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 1 cent on Thursday to settle at $93.36 in New York.
In London, Brent crude was down $1.55 at $111.67 on the ICE Futures exchange.