Brent crude fell marginally by 17 cents to 114.37 a barrel today, due to weak Chinese data, suggesting a continued economic slowdown in the world’s second largest oil consumer.
China’s official factory purchasing managers’ index fell to a lower-than-expected 49.2 in August, the National Bureau of Statistics said on Saturday.
It was the first time since November 2011 that the number has fallen below 50, reports Reuters.
Meanwhile, US crude futures eased 19 cents to $96.29, with investors continuing to expect more global economic stimulus measures.
Israeli Prime Minister Benjamin Netanyahu’s request to set a clear red line for Iran’s atomic programme, and a last-minute wage deal between Norwegian oil drill workers and their employees, have also helped keep prices under control.