Oil prices slipped on Monday as China's economic outlook remained weak even...
SINGAPORE - Oil prices slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved as an ongoing trade war with the United States weighs on demand growth at the world’s largest crude importer.
The PMI data “remained in the contractionary territory for the 5th month in a row, indicating that economic fundamentals were still weak,” Citi analysts said in a note. “Most of this is already priced in when the Saudis said they were going to do it fast,” said Avtar Sandu, a senior commodities manager at Phillip Futures in Singapore.
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