Oil drops as weak Chinese factory data heightens demand concerns

A worker checks the valve gears of pipes linked to oil tanks at Turkey’s Mediterranean port of Ceyhan, some 70 km (43.5 miles) from Adana February 19, 2014. (Reuters photo)

SULAIMANI (ESTA) — Oil prices dropped on Monday as weak manufacturing data from China and Japan weighed on the demand outlook while investors braced for this week’s meeting of officials from OPEC.

Brent crude futures were down $1.42, or 1.4%, at $102.55 a barrel by 1017 GMT. U.S. West Texas Intermediate crude was down $1.85, or 1.9%, at $96.77.

(Esta Media Network/Reuters)


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