Brent Crude Declines to Lowest in Nine Months on China Slowdown

Brent crude fell to its lowest level in nine months and West Texas Intermediate dropped below $90 a barrel, as economic growth eased unexpectedly in China, the world’s second-largest crude consumer.

Brent declined as much as 2.5 percent to its weakest since July 13. China’s gross domestic product in the first quarter rose 7.7 percent from a year earlier, according to the National Bureau of Statistics. That compares with the 8 percent median forecast in a Bloomberg survey and 7.9 percent in the prior quarter. Nicolas Maduro was elected president of Venezuela, OPEC’s third-biggest oil producer.