Futures Movers: Oil prices slump after weak China data


Oil futures slumped Tuesday, feeling pressure after another round of disappointing economic data out of China, which was followed by interest rate cuts by the central bank in Beijing.

Price action

Market drivers

Data released Tuesday showed China’s retail sales and industrial production grew less than expected in July. The figures followed other lackluster data and comes amid worries over severe distress in the countries property sector, which prompted a series of interest rate cuts by the People’s Bank of…

This article was originally published by Marketwatch.com. Read the original article here.

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