China's economic downturn puts pressure on oil prices
The price of Brent crude oil is seeing its sharpest drop in the past four weeks.
The price of Brent crude oil is seeing its sharpest drop in the past four weeks. The downward momentum is brought on by weak data out of China. The manufacturing PMI dropped to 48.8, its lowest point since December 2022. China's economic slowdown is holding back the consumption of oil and petroleum products. Brent's price is likely to continue to slide.
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