Crude oil is trading at 92.06 flat this morning after falling early on Monday after disappointing economic data from China raised concerns about oil demand in the world’s largest energy consumer. Oil prices fell as data on Chinese industrial production and retail sales for January and February came in below expectations. February inflation rose 3.2% from January, raising the possibility that China could tighten monetary policy in response. Investors have been reluctant to wager on higher prices. Towards the end of the trading day, oil regained its footing to add a few cents. Crude prices were slightly up as improved economic outlook in US supported crude prices. However increased output by OPEC nations limited the upside amid concerns of moderate demand.
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