Oil prices slipped $1 a barrel on Monday as investors adopted caution ahead of the Fed policy meeting and China's manufacturing data later this week, offsetting support from geopolitical tensions in the Middle East.
Brent crude futures dropped 98 cents, or 1.1%, to $89.50 a barrel by 0001 GMT while U.S. West Texas Intermediate crude was at $84.54 a barrel, down $1, or 1.2%.for signs of any economic slowdown that could impact fuel demand at the world's top oil consumer, CMC Markets analyst Tina Teng said.into Gaza, stoking worries that the conflict could widen in the region that accounts for a third of global oil production.
Last week, Brent and WTI marked their first weekly fall in three weeks as developments in the Middle East keep investors on edge and prices volatile. China will report its October manufacturing and services PMIs this week, with investors watching out for further signs of aand improving fuel demand at the world's top crude importer and No. 2 oil consumer after Beijing launched a burst of supportive policy measures.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil dips as caution about data-heavy week offsets Mid-East war boostOil dips as caution about data-heavy week offsets Mid-East war boost
Read more »
Me & My Car: Oakland man’s ’92 Allanté one of Cadillac’s unique modelsNate is an East Bay community papers editor for the Bay Area News Group and East Bay Times. He edits the Hills weekly Alameda Journal, Berkeley Voice, El Cerrito Journal, Montclarion and Piedmonter newspapers; Central Costa County's weekly Concord Transcript and Walnut Creek Journal papers; and East Contra Costa's weekly East County News.
Read more »
Elias: California’s denser housing ‘solutions’ are failing badlyNate is an East Bay community papers editor for the Bay Area News Group and East Bay Times. He edits the Hills weekly Alameda Journal, Berkeley Voice, El Cerrito Journal, Montclarion and Piedmonter newspapers; Central Costa County's weekly Concord Transcript and Walnut Creek Journal papers; and East Contra Costa's weekly East County News.
Read more »
Peak fall foliage expands south in Midwest and toward Mid-AtlanticPeak now covers much of non-mountainous New England, New York and Pennsylvania as well as the zone from Michigan to Nebraska.
Read more »
DC pandas will be returning to China in mid-November, weeks earlier than expectedThe zoo's exchange agreement with the Chinese government, originally brokered by President Richard Nixon 50 years ago, expires on Dec. 7.
Read more »