A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas.
Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy.
The U.S. central bank cut interest rates by half a percentage point on Wednesday, suggesting the Fed saw a slowing job market.
That view appeared to outweigh the boost that interest rate cuts usually bring to economic activity.
China's industrial output growth also slowed to a five-month low last month, and retail sales and new home prices weakened further.
Persons:
Tony Sycamore, heightening
Organizations:
Brent, Fed, ANZ, Citi, Shandong Yulong Petrochemical
Locations:
Midland , Texas, U.S, China, Shandong Yulong, Gaza