Crude oil began trade today with a slide, following the release of weaker-than-expected factory activity data from China as well as the latest round of Covid restrictions in the country, according to Reuters. The decline was modest, at less than 1 percent at the time of writing, after China released its manufacturing PMI reading for October, which surprised the market with a decline.
"The purchasing managers' index (PMI) data contracting adds to the post-China congress party blues for oil markets. It is not difficult to draw a straight line from…Oil Prices Sink As New Data Shows Weak Factory Activity In China
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