Economics
Brent Declines Below $100 for First Time Since June 2013
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Brent crude dropped to a 16-month low as falling Chinese imports bolstered concern that slower growth will worsen a global oil surplus. West Texas Intermediate slipped to the lowest level since January.
The European benchmark fell 0.6 percent while WTI decreased 0.7 percent. Total Chinese imports slumped 2.4 percent in August, data from the Beijing-based customs administration show. Economic growth in China, the biggest oil consuming country after the U.S., will drop to 7.4 percent this year, the weakest pace since 1990, according to economist estimates compiled by Bloomberg.