Oil Holds Below $54 as China Factory Data Reignites Growth Worry - Bloomberg:
Oil held below $54 a barrel in New York as weak Chinese manufacturing data and persistent uncertainty over U.S.-China trade talks stoked concerns that slowing growth could hurt demand.
West Texas Intermediate futures were steady after rising 18 percent last month. A Chinese factory purchasing managers index for January fell to the lowest level in almost three years, showing the damage the trade war is doing to Asia’s largest economy. The White House said progress had been made in talks, though didn’t detail any new commitments from either side.
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