After falling 2.5% last week oil prices are extending losses at the start of the new week amid jitters over slowing demand and despite a tighter supply outlook for 2024. Chinese data released over the weekend showed that consumer inflation rose modestly in February thanks to increased spending during the Lunar New Year. However, producer price inflation shrank more than expected in the same period, indicating that China's factories remain under pressure. The data comes after uninspiring Chinese import data last week, which showed the country imported 10.74 million barrels a day from January to February, up 3.3% on an ... (full story)