Oil prices decreased today, Tuesday, under pressure from weak economic data from China, which coincided with fears that Beijing's unexpected reduction in key interest rates would not contribute to reviving the economy.

Brent crude futures fell 73 cents, to reach $85.48 a barrel, and the US West Texas Intermediate crude fell 91 cents, to $81.6 a barrel.

Data on industrial production and retail sales in China showed, earlier today, that the economy slowed down more last month, which increased pressure on already fragile growth, and prompted the authorities to cut interest rates to boost economic activities./ End

Source: National Iraqi News Agency