West Texas Intermediate crude slid from the highest closing price in two weeks amid slowing economic growth and weaker industrial output in China, the world’s second-biggest oil consumer.
Futures lost as much as 1 percent in New York. Factory production rose by 9.7 percent in December, the slowest expansion in five months, according to China’s National Bureau of Statistics. Iran’s Atomic Energy Organization chief welcomed the start of the implementation of an interim nuclear deal with world powers that will see the Gulf state curb its atomic program in exchange for sanctions relief.
