Brent Oil Reaches Lowest Level in 9 Months on Slowing Economic Growth

- April 16th, 2013

Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.

Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.

As quoted in the market news:

Brent fell below $100 because of the economic outlook in Europe and China,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $1.4 billion. “The picture in Europe looks horrible and the Chinese growth rate is slowing, which means oil demand isn’t going to rise as much as we expected.

Click here to read the full Bloomberg report.

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