Oil futures slumped early Wednesday after weak economic data out of China underlined worries about demand from one of the world’s largest crude importers.
Price action
Market drivers
China’s official manufacturing purchasing managers index fell to 48.8 in May, from 49.2 in April, the National Bureau of Statistics said Wednesday. The result was also below the 49.7 expected by economists surveyed by The Wall Street Journal. It marked the second month in a row that the reading fell below the 50 mark, which separates…
