Oil prices tumble on US/China data

Oil prices tumbled on Friday after weaker consumer confidence data, tracing another leg lower in Asia after China's data rose by far less than expected, triggering fears that its recovery is slowing. Virus fears also appear to be weighing on Asian sentiment in general, with markets casting a wary eye towards the evolution of the situation in China, particularly partial port closures. On Friday, Brent crude fell by 1.30% to $70.20 a barrel, losing another 0.65% to $69.75 today in Asia. WTI sell by 1.40% to $67.95 a barrel on Friday, losing another 0.50% to $67.60 in Asia. Both contracts,…