Oil Declines as Weak Chinese Economic Data Weighs on Outlook

Bloomberg12-17

(Bloomberg) -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped. West Texas Intermediate dropped more than 1.5% to dip below $70 a barrel,...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Declines as Weak Chinese Economic Data Weighs on Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-17 23:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oil-holds-decline-poor-china-233047094.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped. \nWest Texas Intermediate dropped more than 1.5% to dip below $70 a barrel,...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-holds-decline-poor-china-233047094.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4521","symbol_name":"英国银行股","start_time":0,"source_url":"https://finance.yahoo.com/news/oil-holds-decline-poor-china-233047094.html","article_id":"2492967086","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/YaLwvyKpzPIkuTJ1TNDkrA--~B/aD0xMzMyO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/c1ff4ed79b09e31aec16926d543d474c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492967086","pubTimestamp":1734449058,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped.West Texas Intermediate dropped more than 1.5% to dip below $70 a barrel, while Brent slid below $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday.Traders are also awaiting Wednesday’s interest rate decision and monetary policy forecast from the Federal Reserve.Crude has fallen about 15% in the second half of this year on concerns about the outlook for 2025. Still, since the middle of October, futures have been trading in a narrow range, pushing oil’s 30-day historical volatility near the lowest since August. Pessimism over China dragged prices away from the upper end of the price band.“The poor showing of China data yesterday and the abject performance in global manufacturing PMIs maintains the idea that beyond tariffs on Russia and Iran, demand doubt is never far away in oil thinking,” sa","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4521":"英国银行股","BK4207":"综合性银行","BCS":"巴克莱银行"},"translate_title":"中国经济数据疲软拖累前景，油价下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCS":0.9},"content_text":"(Bloomberg) -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped. \nWest Texas Intermediate dropped more than 1.5% to dip below $70 a barrel, while Brent slid below $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday. \nTraders are also awaiting Wednesday’s interest rate decision and monetary policy forecast from the Federal Reserve.\nCrude has fallen about 15% in the second half of this year on concerns about the outlook for 2025. Still, since the middle of October, futures have been trading in a narrow range, pushing oil’s 30-day historical volatility near the lowest since August. Pessimism over China dragged prices away from the upper end of the price band. \n“The poor showing of China data yesterday and the abject performance in global manufacturing PMIs maintains the idea that beyond tariffs on Russia and Iran, demand doubt is never far away in oil thinking,” said John Evans, an analyst at brokerage PVM.   \nEuropean nations are set to clamp down on tankers moving Russian crude, after the US signaled it may lower a price cap on the producer’s oil to limit access to funds for the war in Ukraine. Israeli officials say a ceasefire in Gaza is a more realistic prospect than at any time in the past year, in another headwind to crude. \nTo get Bloomberg’s Energy Daily newsletter in your inbox, click here.\n--With assistance from Alex Longley.\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492967086"}