- U.S. business activity weakens again in October -S&P Global
- China’s Sept crude imports fall, fuel exports hit 15-mth high
NEW YORK, Oct 24 (Reuters) – Oil prices steadied in choppy trade on Monday, as weakening U.S. business activity data eased expectations for more aggressive interest rate hikes, while data showing demand from China remained lacklustre in September limited prices.
Brent crude futures for December settlement fell 21 cents, or 0.2%, at $93.29 a barrel by 12:08 p.m. EDT (1608 GMT), after rising 2% last week. U.S. West Texas Intermediate crude for December delivery lost 34 cents, or 0.4%, to $84.71 a barrel. Both benchmarks had fallen by $2 a barrel earlier in the session.
Although higher than in August, China’s September crude imports of 9.79 million barrels per day were 2% below a year earlier, customs data showed on Monday, as independent refiners curbed throughput amid thin margins and lacklustre demand.
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