After the release of official data, the slowdown in refining volumes, and economic activity in China, oil prices fell today by more than 1%.
The price of Brent fell 90 cents, or 1.3%, to $69.69 per barrel.
The price of WTI fell 97 cents, or 1.4%, to $67.47 per barrel.
In China, the economy is limping, due to the severe weather events and the outbreak of the Delta variant, retail sales figures and production figures fell rapidly.
Chinese crude oil processing fell last month to its lowest level in more than a year. This came as independent refiners throttled production due to increased stock levels and low-profit margins.
In Japan, economic growth declined slightly this quarter. This is due to the emergency situation created by the total number of people infected with the virus.
It is expected, however, that crude oil demand will grow, with a slower pace expected for the remainder of 2021.
The Spot Market is Open
Tue. 17Aug- 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 06.10 | 1,787.60 1,788.60 | +0.70 0.04% | 1,786.40 1,788.90 |
| Silver 06.10 | 23.88 23.98 | +0.05 0.21% | 23.83 23.99 |
| Platinum 06.10 | 1,019.00 1,029.00 | +1.00 0.10% | 1,017.00 1,029.00 |
| Palladium 06.10 | 2,536.00 2,686.00 | -2.00 -0.08% | 2,534.00 2,696.00 |
| Rhodium 05.00 | 18,050.00 20,050.00 | 0.00 0.00% | 18,050.00 20,050.00 |
| Energy Updated at | Price | Change | %Change |
| Crude Oil 06.10 | 67.50 | +0.21 | 0.31% |