Signs of China’s economy slowing have seen oil prices slide, according to the daily market report from npower.
“Poor” economic data released yesterday comes despite a number of policies recently put in place to boost growth in the major oil consuming country.
Alex Guiot, Client Portfolio Manager at npower’s Optimisation Desk said: “Oil continues to pressure the curves with poor Chinese macroeconomic data, keeping prices just below $100 per barrel.”
Meanwhile he pointed towards EU plans for delaying sanctions against Russia if a ceasefire in Ukraine holds.
Gas prices may edge lower as a result, he said: “Markets therefore look a touch softer today.”