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Oil prices fall by more than a $1 on Chinese economic data

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Oil prices fall by more than a $1 on Chinese economic data

Oct 13, 2024 5:49 PM

BEIJING (Reuters) - Oil prices fell by a dollar in early Asian trading on Monday after disappointing Chinese inflation data over the weekend stoked fears about demand.

Brent crude futures were down $1.12 at $77.92 per barrel by 2228 GMT, and U.S. West Texas Intermediate crude futures fell $1.07 to $74.49 per barrel.

China's deflationary pressures increased in September, according to its National Bureau of Statistics, and a Saturday news conference left investors guessing about the overall size of a stimulus package to revive the sputtering economy.

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