Oil prices ease on weaker economic data from China, Japan

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Reuters UK

By Sonali Paul and Isabel Kua (Reuters) -Oil prices eased on Wednesday, giving up earlier gains, after China and Japan reported weak economic data, fuelling concerns about growth and oil demand in the world’s top consumers. Brent crude futures was down 34 cents, or 0.3%, to $104.30 a barrel at 0501 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell by 46 cents, or 0.5%, to $100.14 a barrel. Both contracts had surged more than 6% in the previous session. China’s crude oil imports slipped 14% from a year earlier, extending a two-month slide, as strict measures to curb the spread of…

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