Oil slips as China inflation picks up

Oil prices fell on Friday on concerns that China’s government could limit economic stimulus measures because of higher inflation.

Benchmark oil dropped 57 cents to US$93.25 a barrel in afternoon trading in New York. A day earlier, a report showing a rebound in China’s trade growth boosted oil because it suggested a possible recovery in global demand.

Friday’s data showed China’s inflation spiked to a six-month high in December. Higher inflation could hamper Beijing’s ability to support the country’s economic recovery.

via Business feed http://www.scmp.com/business/commodities/article/1126241/oil-slips-china-inflation-picks