Global oil prices

Oil prices declined Friday following weak data from China, spooking demand concern ahead of the release of US economic data. Data release will be used to gauge US Federal Reserve’s rate-hiking path, as well as a stronger dollar, which makes dollar-indexed crude more expensive for buyers. International benchmark Brent crude traded at $78.58 per barrel, a 0.02% decrease from the closing price of $78.60 a barrel in the previous trading session. At the same time, American benchmark West Texas Intermediate (WTI) traded at $74.47 per barrel, a 0.13% rise after the previous session closed at $74.37 a barrel. The number…