Oil prices fell on Thursday amid weakening factory output in China and Japan and...
SINGAPORE - Oil prices fell on Thursday amid weakening factory output in China and Japan and record U.S. crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC.
U.S. West Texas Intermediate crude oil futures were at $56.78 per barrel, down 16 cents, or 0.3 percent, from their last settlement. “Further evidence of a slowdown in China hit risk sentiment,” said Jasper Lawler, head of research at futures brokerage London Capital Group.Russia’s Surgutneftegaz is selling April-loading ESPO crude oil at the lowest level in three months, charging $2.20 to $2.40 per barrel over benchmark Dubai quotes, trade sources said.
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