Brent crude oil futures edged below 106 dollars a barrel, today, weighed down by concerns that weak data from the United States and China could slow global growth, though a spate of supply problems offered some support. So Brent fell 11 cents, to 105.93 dollars a barrel, after two sessions of losses. But U.S. crude futures rose 42 cents, to 96.85 dollars a barrel following its largest daily percentage loss in nearly a month as it tumbled with U.S. equities. Analysts said the pressure is still on the downside for Brent, on concern about growth in emerging markets. U.S. manufacturing activity slowed sharply in January, on the back of the biggest drop in new orders in 33 years, while construction spending barely rose in December. Also, factory activity reports have raised concerns about growth in China.
News On AIR | February 4, 2014 5:28 PM
Brent crude oil futures edge below 106 dollars per barrel<br/>