Oil futures slumped Tuesday, ending lower after another round of disappointing economic data out of China, which was followed by interest rate cuts by the central bank in Beijing.
Price action
Market drivers
Data released Tuesday showed China’s retail sales and industrial production grew less than expected in July. The figures followed other lackluster data and comes amid worries over severe distress in the countries property sector, which prompted a series of interest rate cuts by the People’s Bank of China.
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