China’s disappointing growth news dragged down oil prices today, with West Texas Intermediate now trading lower at 103.15. The Chinese National Bureau of Statistics reported earlier today that 1st quarter economic growth fell to 8.1%, lower than predictions of 8.3%, and data shows that that is in fact the weakest pace in almost three years. Despite analysts’ predictions, markets were expecting the figures to have improved; as a result the outcome is weighing more heavily than it otherwise might have. Read more