WTI falls to low­est this year

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

West Texas In­ter­me­di­ate dropped to the low­est price this year and headed for a sec­ond weekly de­cline as Chi­nese man­u­fac­tur­ing ex­panded less than forecast and OPEC crude pro­duc­tion rose for the first time in six months. Fu­tures slid as much as 0.8 per­cent to $91.34 a bar­rel in New York, the low­est in­tra­day price since Dec. 31. Out­put from the Or­ga­ni­za­tion of Pe­tro­leum Ex­port­ing Coun­tries gained 97,000 bar­rels to an av­er­age of 30.7 mil­lion a day in Fe­bru­ary, a Bloomberg sur­vey showed. China's man­u­fac­tur­ing pur­chas­ing man­agers in­dex fell to 50.1 last month, com­pared with a me­dian forecast of 50.5. "There are wor­ries about slower growth in China," said Robert Mon­te­fusco, a se­nior bro­ker at Suc­den Fi­nan­cial Ltd. in Lon­don.

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