Oil drops nearly 2 percent as China slowdown bites | Reuters:
Oil prices fell nearly 2 percent on Tuesday on signs that an economic slowdown in China is spreading, stoking concerns about global growth and fuel demand.
The gloomy news from the world’s second-largest economy and top oil importer pulled down financial markets across Asia.
International Brent oil futures were down $1.23, or 1.96 percent, at $61.51 a barrel by 1205 GMT. U.S. West Texas Intermediate (WTI) crude futures were down $1 at $52.80.
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