West TX Eases Back to $97 over China Concerns

U.S. crude futures fell in early Asian trade on Monday on concerns over oil demand after factory growth in China, the world’s No. 2 oil consumer, eased in January to a six-month low.

U.S. oil lost 31 cents to $97.18 a barrel by 0021 GMT in thin trade with Chinese markets closed for the Lunar New Year holiday. It settled 74 cents down at $97.49 on Friday.

Brent crude eased 20 cents to $106.20 from Friday’s close. For the month of January, it ended 4 percent lower, the biggest monthly percentage decline since September.

CNBC

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