8/15, 7:32 AM (Source: TeleTrader)
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Oil prices decline as China data misses expectations

Oil futures prices decreased on Monday following a string of data from China that failed to reach projections. Considering that the People's Republic is the world's leading crude importer, worries about the country's future oil demand could have affected the prices.

An agreement on sanctions against Iran could be reached this week, according to Russia's main negotiator at the Joint Comprehensive Plan of Action (JCPOA) talks. A potential deal could lift the oil export sanctions against Tehran and increase the supply of oil on the global market.

West Texas Intermediate (WTI) for settlements in September was down 0.93% and sold for $91.23 per barrel at 12:50 am ET, while Brent for deliveries in October declined 1.01%, selling for $97.16 per barrel at 1:21 am ET.

Baha Breaking News (BBN) / MS