Oil prices fall as Japan's economy contracts

17-Aug-15

Figures indicate that Japan's economy contracted on the back of falling exports and consumer spending. This has compounded fears that Asia's biggest economies are starting to slow at the same time. As per moneycontrol com, US crude was trading at US$ 42.07 per barrel and close to more than six-year lows. Brent futures were at US$48.69 a barrel Japan's economy, the second biggest in Asia and number three in the world, shrank at an annualized pace of 1.% any rebound in growth in July-September will be modest, analysts say