Crude Heads Lower as China GDP Growth Disappoints

Originally published at Fox Business Oil prices fell on Friday and headed for a weekly loss after data showed No. 2 oil consumer China's economy grew at its weakest pace in nearly three years in the first quarter, reinforcing concerns about slowing demand for petroleum. A stronger dollar and a slip in U.S. consumer confidence in April added pressure on oil prices and equities on Wall Street and key industrial feedstock copper also were weighed down by the slip in Chinese economic growth. Caution ahead of talks between Iran and five permanent members of the U.N. Security Council plus Germany about Tehran's disputed nuclear program and news of falling North Sea oil production were expected to limit losses heading into the weekend. Continue reading this article here.