U.S. oil slips, set for back-to-back decline amid signs of fresh China weakness

Crude-oil futures on Monday were on pace to decline firmly, as global equity markets pulled back on further signs of weakness in the world’s second-largest economy, China.

Data showed weak China imports and exports for December, which underpinned worries of a slowdown in the global growth engine—a potential negative for oil demand.

Moreover, China’s trade surplus with the U.S. soared to a fresh record of $323.32 billion in 2018, amid Washington’s trade spate with Beijing.
more at source: https://www.marketwatch.com/story/us-oil-slips-set-for-back-to-back-decline-amid-signs-of-fresh-china-weakness-2019-01-14

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