Oil Slips But Weaker Dollar, China's Economic Data Cap Losses

Core Viewpoint - Oil prices have decreased despite a weaker dollar and strong economic growth in China, with renewed trade tensions between the U.S. and Europe over Greenland being a focal point [1] Group 1: Oil Price Movements - Brent crude oil prices fell by 0.7% to $63.52 per barrel [1] - WTI crude oil prices decreased by 0.5% to $58.45 per barrel [1] Group 2: Market Conditions - The U.S. dollar index declined by 0.8% to 98.60, which typically supports oil and the broader commodities market [1] - Analysts noted that ICE Brent held up relatively well amid a broader risk-off sentiment in markets, settling 0.3% lower [2] - Continued firmness in ICE Brent timespreads indicates a tighter spot physical market, which may support prices [2]