Tokyo - Oil prices were mixed in Asia on Tuesday after a batch of downbeat Chinese data highlighted concerns about slowing growth in the world's second-largest economy.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, added five cents to $95.82 a barrel while Brent North Sea crude for July delivery shed 15 cents to $103.80.
“A lot of data has come out over the weekend. Dealers are trying to get their heads around China and its import and export data,” Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.
“We're also nearing the top of the WTI range. Any rise in price is likely to be kept by technical selling.”
China over the weekend published a slew of lukewarm economic indicators that sparked concerns about slower growth in the world's biggest energy consumer.
On Saturday, the country reported a sharp slowdown in exports in May compared to the previous month, and an unexpected drop in imports.
Overseas shipments rose just one percent to $182.8-billion last month, far lower than 14.7 percent recorded in April, customs authorities said.
The Chinese government a day later announced that industrial output expanded at a slightly slower pace in May while big ticket investment growth eased.
Industrial production, which measures output at the country's factories and mines, rose 9.2 percent year-on-year in May, marginally weaker than the 9.3 percent increase in April, the National Bureau of Statistics said.
The figures come amid growing concern over the outlook for China's economy, which grew 7.8 percent in 2012, its worst performance in 13 years.
The International Monetary Fund last month cut its 2013 growth forecast for China to around 7.75 percent, down from a previously predicted expansion of 8.0 percent.
Traders were also watching developments between Sudan and South Sudan.
Sudan President Omar al-Bashir shut the pipeline carrying South Sudanese crude for export, and on Sunday Sudan suspended nine security and economic pacts with South Sudan.
South Sudan produces about 350 000 barrels of oil per day but depends on Sudan's export infrastructure. - AFP