Oil Slumps to Six-Month Low on Iran Supply Plan, China Slowdown
month low in London as Iran vowed to boost production immediately after sanctions are lifted and manufacturing in China slowed. Brent futures declined as much as 2.6 percent, extending an 18 percent drop in July that was the biggest in seven months. can raise output by 500,000 barrels a day within a week of sanctions ending, the state-run Islamic Republic News Agency reported. A Chinese private factory gauge released on Monday fell to a two-year low in July, while an official index on Saturday slipped to the lowest in five months. Crude ...
Click
To Read Full Article