Brent Oil Around $102.50 on Faltering Demand

Brent crude oil prices dipped on Monday as manufacturing growth faltered in Europe and China at a time of ample supply, although the risk of production setbacks remained high in Libya where the government has lost control of most of the capital.

Euro zone manufacturing growth slowed more than expected last month and factory activity in several key countries appeared to be stagnating. French factory output fell at its fastest in 15 months in August.

Chinese factory growth slipped to a three-month low in August as foreign and domestic demand cooled, and the country’s huge construction sector is also seeing a slowdown, muddying the outlook for demand from the world’s key consumer of most commodities.

CNBC

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