Oil stabilized Monday

Oil prices stabilized on Monday, earlier in the course of trading, they fell to lows for two weeks.

Market participants have shifted from doubt in rebalancing the market on positive Chinese statistics.

Quote of the September futures for Brent crude on London’s ICE Futures exchange to 17:43 kV increased by 5 cents (0,10%) to $48,96 per barrel.

Crude oil with August delivery in electronic trading on the new York Mercantile exchange (NYMEX) decreased by $0.01 (0.02 percent) to $46,53 per barrel.

As reported, China’s economy in the II quarter grew by 6.9% compared to the same period last year, as in the previous three months. Experts on average had expected the slowdown to 6.8%.

In addition, the growth rate of industrial production in China in June 2017 rose to 7.6% in annual terms, after rising by 6.5% in may. Analysts polled by The Wall Street Journal, the average forecasted growth rates at the same level .

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