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Commodities Briefing - Categorized | Oil, Price Watch more

Oil price rises on Chinese manufacturing survey

Posted on 25 October 2012

The price of oil rose on Wednesday after a survey of Chinese manufacturing suggested that a slowdown in the world’s second-largest economy might be stabilizing. Benchmark oil for December delivery was up 79 cents to $87.46 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped $1.98 to finish at a three-month low of $86.67 on Tuesday.
The fall on Tuesday was sparked by a slew of disappointing earnings and forecasts released Tuesday by US corporate giants. Revenue fell compared with a year ago at chemical maker DuPont, UPS and Xerox and others………………………………………..Full Article: Source


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