WTI down $2.66 to $89.16 today:
Demand declined by 1.9% year on year to 36.84 million metric tons last month and was the first contraction since a 2% drop in the first quarter of 2009 in the wake of the global financial crisis, Platts said.
Oil has fallen sharply since hitting $93 on Thursday. It found support today after briefly slipping below $88.
Hard to believe that oil demand was falling if China was growing 7.6%.
