Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Crude oil futures lower amid lingering growth concerns

Metals | Steel | Raw Materials

The growing importance of ESG in the commodities space


Platts Market Data – Oil

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Mediterranean Bunker Fuel Conference, 9th Annual

Oil | Crude Oil | Petrochemicals

CHINA DATA: Congestion prevents independent refineries from discharging US crude in Jun

Crude oil futures lower amid lingering growth concerns

Singapore — Crude oil futures were marginally lower during mid-morning trade in Asia Monday amid lingering global growth and demand concerns as markets await fresh price cues to provide direction.

At 10:20 am in Singapore (0220 GMT), ICE Brent December futures were down 19 cents/b (0.32%) from Friday's settle at $59.23/b, while the NYMEX November light sweet crude futures contract was 10 cents/b (0.19%) lower at $53.68/b.

"Global risk sentiments were dented by China's disappointing Q3 GDP growth print of 6% year on year and warnings of a weak global growth prognosis at the IMF-World Bank annual meetings on Friday," OCBC Bank analysts said in a note Monday.

China's gross domestic product expanded 6% in Q3, the lowest level since 1992, according to media reports citing Chinese government bodies.

"Crude oil prices suffered after data showed that China's economic growth remained weak," ANZ analysts said in a note Monday.

"This weighed on an already gloomy mood after the weekly EIA [US Energy Information Administration] report earlier showed crude oil inventories rose 9.3 million barrels the previous week," they added.

The OCBC Bank analysts said: "Asian markets may be off to a shaky start this week as fluctuating optimism about US-China trade progress and Brexit extension hopes battle with weak economic data."

In the US, Tropical Storm Nestor made landfall at St Vincent Island in Florida as a post-tropical cyclone Saturday, according to the National Hurricane Center. The storm is projected to "move offshore of the coast of North Carolina into the western Atlantic by late Sunday" as a post-tropical cyclone, the NHC said.

While monitoring the impact of the storm, market participants will also be looking to weekly US crude inventory data due for release mid-week for price direction.

As of 0220 GMT, the US Dollar index was up 0.16% at 97.075.

--Avantika Ramesh,

--Edited by Wendy Wells,