TOKYO : Oil prices fell for a second day on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China, the world's two biggest oil consumers.Brent crude futures was 29 cents lower, or down by 0.4 per
TOKYO : Oil prices fell for a second day on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China, the world's two biggest oil consumers.
That added to concerns about U.S. growth after data showed retail sales rose 0.4 per cent in April, short of estimates for an increase of 0.8 per cent. In China, April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter.
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