Brent Crude Falls as China Data Counters Ukraine Tension - Bloomberg

Brent Crude Falls as China Data Counters Ukraine Tension - Bloomberg:



"Brent crude fell for the first time in three days as Chinese data showing a reduced pace of economic growth countered concern that the crisis in Ukraine is escalating. West Texas Intermediate was steady. 




Futures dropped as much as 0.3 percent in London. China’s gross domestic product expanded by a seasonally adjusted 1.4 percent in the first quarter, down from 1.7 percent in the previous three months, according to the National Bureau of Statistics. Ukraine began an offensive against separatists in its restive east, recapturing an airport amid claims that Russian special forces were supporting anti-government groups.



“The headline GDP data wasn’t good,” Sijin Cheng, a commodities analyst at Barclays Plc in Singapore, said by phone today. “Also the market has been preoccupied by all the geopolitics, the tensions. Given that context, the reaction has been relatively muted.”"



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