Monday, 29 April 2013
Oil slips to $103 on tepid growth outlook
Brent crude oil slipped to $103 per barrel as an uncertain outlook for growth in the world's two largest oil consumers, the United States and China.
Oil rallied from nine-month lows on expectations that stronger global economic activity would encourage more fuel consumption, but disappointing data capped the recovery.
Brent lost 16 cents to $103.00 per barrel. U.S. crude was up 15 cents at $93.15 a barrel.
Brent is more than 6 percent below its starting point in April, pressured by data suggesting the global economy remains on a fragile footing at best.