Crude Erased Friday's Gain on China Growth Concerns

Crude oil slumped, erasing the gains made last Friday, as China's IP growth disappointed and implied Chinese crude demand dropped in September. Worse still, Iranian government forecast that the country's output would jump +500K bpd within a week after lifting of sanctions. The front-month contract for WTI crude oil dropped -2.90% while the Brent contract plunged -3.67%.

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Crude Erased Friday's Gain on China Growth Concerns