The
cut
by
the
US
Energy
Information
Administration
(EIA)
followed
weak
economic
numbers
from
the
two
top
oil
consumers
-
China
and
the
US
-
suggesting
the
global
economy
may
be
in
more
trouble
than
it
appeared.
These
factors
overshadowed
concerns
of
supply
disruption
from
the
Middle
East.
Brent
traded
15
cents
higher
at
$120.03
a
barrel
early
on
Wednesday,
after
settling
$2.79
lower
at
its
weakest
since
17
February.
The
2.27%
slide
was
the
biggest
one-day
percentage
loss
since
14
December.
US
oil
slipped
10
cents
to
$100.92
a
barrel,
after…
Brent steadies at $120