Jumbangla Desk: The price of fuel oil has decreased by more than 1 dollar per barrel. Crude oil prices on Monday (Oct 14) were particularly affected by poor inflation conditions in China and a negative outlook for Beijing's economic plans. News Reuters
Oil
Brent crude oil prices fell $1.26 to $77.78 a barrel. As a percentage which is 1.59 percent. In addition, US West Texas Intermediate crude oil prices fell by $1.20 per barrel to $74.36. As a percentage that is 1.20 percent.
According to the Reuters report, China's market system is going through volatility due to the negative news published. Because oil production was disrupted after Iran's missile attack on Israel on October 1. Later, however, the US warned Israel against attacking Iran's energy sector.
According to data released by China on Saturday, China has been suffering from inflation problems since September. In this situation, investors thought that the Chinese government might announce a stimulus package to deal with the situation.
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National Bureau of Statistics data showed the consumer price index rose 0.4 percent, more than expected. However, the production cost index fell at a faster pace than in the last six months.
