Global crude oil futures touched multi-month lows, today, after Chinese data showed weaker trade figures which hurt sentiment across the commodities markets. Brent oil was down 19 cents, at 48.42 dollars a barrel, after touching an over six-month low of 48.24 dollars a barrel earlier in the session. U.S. crude was down 18 cents, at 43.69 dollars a barrel. Both Brent and US crude have been falling for six weeks, due to a supply glut. China's crude oil imports rose by 4.1 percent in July from June, but this was offset by broader trade figures showing an 8.3 percent slump in exports. In addition, producer prices in July were at their lowest point since late 2009.
News On AIR | August 10, 2015 5:30 PM
Global crude oil futures touch multi-month lows