Oil weakens amid slower global economic growth

Source: Reuters
© Scanpix/Reuters
In spite of a decline in US drilling operations for the fourth week in a row, crude oil prices slid lower, with weak economic outlook being one of the main drivers for it. China's industrial profits fell 8.8% in August from a year ago, while industry profits decreased 1.9% from January to August. Futures for Brent dropped $0.47 to trade at $48.13 a barrel, whereas WTI futures went down $0.44 to trade at $45.26 per barrel. 
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