Oil Declines 1.9 percent on Chinese Manufacturing Data

Bloomberg reported that oil dropped 1.9 percent over China’s slow manufacturing data.

As quoted in the market news:

Crude for February delivery dropped $1.93 to $98.46 a barrel on the New York Mercantile Exchange, the lowest settlement since Dec. 20. The contract expired today. The more active March contract declined $2.21 to $98.33.

Click here to read the full Bloomberg report.