Oil Prices Fall After China's GDP Data Disappoints, And Libya Output Resumes
Portfolio Pulse from Benzinga Newsdesk
Oil prices have fallen following disappointing GDP data from China and the resumption of oil output in Libya. Crude Oil WTI was trading lower by 1.17% at $74.44/bbl, and Brent Oil was down by 1.16% at $78.94/bbl.
July 17, 2023 | 7:21 am
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NEGATIVE IMPACT
The disappointing GDP data from China may negatively impact the iShares China Large-Cap ETF (FXI), as it reflects the performance of the largest companies in the Chinese stock market.
The iShares China Large-Cap ETF (FXI) tracks the performance of the largest companies in the Chinese stock market. Disappointing GDP data from China indicates a potential slowdown in the Chinese economy, which could negatively impact these large companies and, by extension, the performance of the FXI ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80