Oil Tumbles On Fears Of Slow Chinese Economic Recovery

Oil prices dipped by more than 6 percent early on Friday, after China’s top policy-setting meeting didn’t set an annual economic growth target because of “great uncertainty” of the recovery from the coronavirus. As of 7:54 a.m. EDT WTI Crude was plunging by 5.66 percent at $32, and Brent Crude was down 4.74 percent on the day to $34.35. China’s National People’s Congress (NPC), the most important policy-setting annual event in the Communist country, began on Friday and analysts were expecting to see the economic…