The Traderszone Network

Published in TZ Latest News 9 February, 2015 by The TZ Newswire Staff

Brent crude rally ends as China inflation hits five-year low

Brent fell below $58 a barrel on Tuesday after China’s consumer inflation came in at a five-year low for January, raising worries about oil demand in the world’s second-largest economy. The International Energy Agency (IEA) also said the United States will remain the world’s top source of oil supply growth up to 2020, defying expectations of a dramatic slowdown in shale output and keeping fears of a continuing glut at the forefront. Brent crude slipped 64 cents to $57.70 by 0730 GMT (2:30 a.m. EST), ending a three-day rally.

read more