Oil markets fell today as China’s factory purchasing managers’ index dropped to an eight-month low in July, while investors await the outcome of the US Federal Reserve and European Central Bank meeting.

Brent crude dropped 51 cents to $104.41 a barrel and US crude fell 24 cents to $87.82 a barrel, reports Reuters.

Other major Asian exporters Japan, South Korea and Taiwan also reported worsening economic stress.

Meanwhile, in a bid to add more pressure, the US President Barack Obama announced new sanctions against foreign banks to help Iran sell its oil.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData