Oil falls as China economic concerns outweigh rising refinery runs - Reuters:
Oil prices edged lower on Friday, as concerns about China’s economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress toward a U.S.-China trade agreement.
Benchmark Brent crude oil futures LCOc1 fell 49 cents to settle at $59.42 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures lost 15 cents to settle at $53.78 a barrel.
For the week Brent fell 1.8%, while WTI lost 1.7%.
China’s economic growth slowed to 6% year-on-year in the third quarter, its weakest in 27-1/2 years and short of expectations due to soft factory production and continuing trade tensions with the United States.
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