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Oil Falls After Weak Chinese Data

·1 min read
Oil Falls After Weak Chinese Data

Oil, industrial metals and other major commodities are off to a bad start this week after China's economic travails raised worries about the strength of demand for raw materials. Brent-crude prices are down almost 2%, copper is off by 1.8% and soybean futures are 2.3% lower. China consumes more than 15% of the world's oil and more than half of refined copper globally, so any slowdown in its resource-intensive economy tends to feed into lower commodity prices. Beyond China, traders are on the loo