China Becomes Bearish Factor For Oil Prices Again

Brent crude fell below $85 per barrel on Tuesday as poor import/export data from China weighs on oil markets. Chart of the Week- China has become the most important bearish factor weighing on oil prices recently, with July export-import data showing the Asian country’s economy is struggling to outgrow its post-COVID woes. - Overseas exports of Chinese goods have recorded the worst month-on-month decline since February 2020 last month, down 14.5% in dollar terms, with weak consumer spending and investment growth aggravating the outlook. -…