Oil prices fell to near US$103 a barrel Friday after data showed economic growth slowed more than expected in China, the world's second-largest crude consumer.
By early afternoon in Europe, benchmark West Texas Intermedicate crude for May delivery was down 37 cents to US$103.27 a barrel in electronic trading on the New York Mercantile Exchange. The contract has risen 94 cents to settle at US$103.64 in New York on Thursday.
In London, Brent crude, used to price varieties imported by U.S. refineries, was down 28 cents at US$121.23 a barrel on the ICE Futures exchange.
China said Friday its economy grew by 8.1 per cent in the three months ended in March, its weakest expansion since the second quarter of 2009. It grew 8.9 per cent in the last quarter of 2011.
For more: Oil falls to near $103 in Europe after China economic growth slows in Q1 | CanadianBusiness.com
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