Oil Retreats amid Rate Hike Concerns in China

Heightened speculations on rate hikes in China have weighed on financial markets. Asian equities plunged amid worries that slowdown in Chinese growth will affect corporate profits while European bourses fluctuated between gains and losses. In the commodity sector, the front-month contract for WTI crude oil fell after faltering below 86. Gold, however, climbed for another day to as high as 1377. Sovereign woes in the European periphery remained under the spotlight.

See the original post: 
Oil Retreats amid Rate Hike Concerns in China