Oil prices fall as China's economic outlook still weak - Reuters

Oil prices fall as China's economic outlook still weak - Reuters:

Oil prices slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved as an ongoing trade war with the United States weighs on demand growth at the world’s largest crude importer.

Brent crude LCOc1 futures fell 20 cents to $61.71 a barrel by 0632 GMT while U.S. West Texas Intermediate (WTI) crude CLc1 futures edged down 3 cents to $55.88 a barrel.

The official Purchasing Managers’ Index (PMI) rose to 49.8 in September, slightly better than expected and advancing from 49.5 in August. But it remained below the 50-point mark that separates expansion from contraction on a monthly basis, data from the National Bureau of Statistics (NBS) showed.