Oil futures edged lower early Tuesday, pulling back from 2023 highs, after downbeat economic data from China raised worries about global demand.
Price action Market drivers WTI jumped more than 7% last week, while Brent advanced 5.5%, with both benchmarks ending Friday at their highest since November. Brent added to its rise in London trade Monday.
A Caixin survey showed China’s services sector expanded in August at its slowest pace in eight months, providing further evidence that the country’s post-pandemic recovery was faltering.
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