Oil prices decline as China's economy loses steam

empty

InstaForex - Official partner of Dragon Racing

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Account Opening

See also

Trading Conditions

Forex Analytics

Charts

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

Open Demo Account

Training

Trading Platform

FAQ

How to start trading

Video Tutorials

What is Forex

Forex Glossary

Knowledge Base

Contests by InstaForex

Online courses

Useful information

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM System

ForexCopy System

Passive investments

OYS account

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Main Page

Partner Area

Advantages for Affiliates

Registration

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Contests

Events

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Forums

We are in social networks

Forex humour

Forex Portal

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

History

Why Choose Us

InstaSport

Regulation

Company News

Awards

InstaForex Stars

InstaForex Offline

Key documents

Social Responsibility

InstaForex - Official partner of Dragon Racing

Oil prices decline as China’s economy loses steam

19-07-2019 17:04

Oil prices decline as China’s economy loses steam

Open trading account Open demo account

Money withdrawal

Oil prices decline as China’s economy loses steam

The latest reports showed that China’s second-quarter economic growth was the slowest in the past 27 years. Amid this data, oil prices took a nosedive. A week before that, Brent and WTI crude oil benchmarks were demonstrating a strong rally, with prices hitting 3-week highs. Later on, Brent quotes retreated by 0.33% to 66.50 dollars per barrel while WTI futures lost 0.45% to 59.94 dollars per barrel.

What is more, Barry storm had a negative impact on oil quotes as well. The oil refineries located in the emergency area did not shut down despite the threat of floods. However, the oil output volumes in the Gulf of Mexico plunged by 73% or 1.38 million barrels per day.

China, one of the biggest oil consumers, can reduce the volume of oil purchases due to economic problems. In the second quarter of this year, the gross domestic product advanced by just 6.2% as the domestic consumption and foreign demand decreased. Some experts believe that the ongoing trade conflict with the United States can be blamed for the economic slowdown in the country.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Forex humour