“Oil dropped for a third time in four days after Norway ended a strike that threatened to halt production by western Europe’s largest crude exporter, while China reduced purchases of the commodity.
Futures slipped as much as 1.6 percent in New York while London-traded Brent lost 2.1 percent after the Norwegian government ordered compulsory arbitration in the dispute, preventing a platform workers’ lockout scheduled to start at midnight yesterday. The nation pumped about 1.8 percent of global consumption, data from the Norwegian Petroleum Directorate show. China’s net crude imports fell to the lowest level this year, according to customs data today.”
If you enjoy the content at iBankCoin, please follow us on Twitter
