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Oil falls 1 percent on concerns about China slowdown

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil prices fell about 1 percent on Monday, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.Brent crude futures fell 61 cents to $59.87 a barrel by 12:54 p.m. EST (1754 GMT), trading as low as $59.27 intraday. U.S. West Texas Intermediate (WTI) crude futures fell 36 cents to $51.23 a barrel, after sinking to a session low earlier of $50.43.Data out of China spurred fresh concerns about weakness in the global economy. China's exports fell by the most in two ...

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First Published: Mon, January 14 2019. 23:32 IST
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