Arab Today, arab today oil prices plunge as china growth slows
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Oil prices plunge as China growth slows

Arab Today, arab today

Arab Today, arab today Oil prices plunge as China growth slows

New York - XINHUA

Oil prices dropped sharply Monday as China\'s growth rate was weaker than market expectations. The growth of China\'s gross domestic product (GDP) unexpectedly slowed to 7.7 percent in the first quarter, down from 7.9 percent during the fourth quarter of 2012, the National Bureau of Statistics reported Monday. According to preliminary statistics, the GDP of China totaled 11.89 trillion yuan (about 1.89 trillion U.S. dollars) in the first three months of the year. The growth rate of China was weaker than market expectations, but still stayed above the 7.5-percent full-year target for 2013 set by the government last month. The weak economic data from China raised concerns about the possible slowdown of the country\'s demand for oil. Downbeat economic news also came from the United States. The general business conditions index of New York State fell to 3.1 in April from 9.2 in March, missing market expectation. Traders concerned that the U.S. Federal Reserve might tighten the stimulus program earlier than planned as some Fed officials have recently even called for an early end to the bond-buying program. If that happens, the U.S. interest rate would rise, along with the appreciation of the U.S. dollar. Stronger greenback will make the dollar-priced oil less attractive. Light, sweet crude for May delivery dropped 2.58 dollars, or 2. 82 percent, to settle at 88.71 dollars a barrel on the New York Mercantile Exchange. Brent for May delivery expired on Monday. The more actively traded June contract was down 2.6 dollars, or 2.5 percent, to close at 100.44 dollars a barrel.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil prices plunge as china growth slows Arab Today, arab today oil prices plunge as china growth slows

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil prices plunge as china growth slows Arab Today, arab today oil prices plunge as china growth slows

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb

GMT 23:44 2017 Saturday ,03 June

OPEC daily basket price for Tuesday, 30th May 2017
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday