Energy News

A customer prepares to fill the tank of her car at a fuel station in Sint Pieters Leeuw

Oil tumbles 7 percent as weak China data revives growth fears

Oil prices tumbled more than 7 percent on Tuesday in volatile trading that sent Brent futures back below $50 a barrel as weak Chinese data revived concerns about demand for petroleum after crude's three-day rally of more than 20 percent. "It was primarily the China fear factor," Carsten Fritsch at Commerzbank in Frankfurt told the Reuters Global Oil Forum. Brent crude was down $4.10 at $50.05 a…

 
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