Oil Slips in Listless Summer Trade With Chinese Data in Focus
- WTI futures trade in small range, volatility at 2015 lows
- US summer demand and China consumption seen having peaked
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Oil edged lower as traders assessed signs of muted demand in the US and China, while equities rose as the market digested the attack on Donald Trump and looked ahead to earnings.
West Texas Intermediate slipped 0.4% to settle below $82 a barrel on Monday. Prices have fallen off their monthly highs, with US summer consumption seen as having peaked during the Fourth of July holiday. Lackluster economic data from China is raising concern about demand from the largest crude-consuming country.