Tuesday, September 9, 2014

Weak Economic Data Suppress Crude Prices

And this, despite bellicose talk and acts from Russia.

New York - Brent crude fell below $100 a barrel on Monday, the first time in nearly 15 months, before returning to close in three-digit territory but down on the day as fear of Opec output cuts helped the market recover from weak Chinese and US data.
Slower-than-expected growth in the world's top oil consumers, and ample supply, has pushed prices down from a high for the year above $115 in June, complicating central banks' efforts to ward off deflation.