Related News
Oil above US$97 a barrel after 1st gain this week
Online Edition
Oil rose for the first time this week yesterday, but gains were kept in check by plentiful supplies.
Benchmark U.S. crude for December delivery gained 25 cents to close at US$97.11 a barrel on the New York Mercantile Exchange. Oil is still down US$3.70 a barrel, or 3.7 percent.
One factor weighing on the price was Wednesday's report from the Energy Information Administration that said US oil inventories rose by 5.2 million barrels last week, a possible symptom of subdued demand and overproduction. The rise in stockpiles followed a 4 million barrel increase in the previous week.
Oil did get a lift Thursday from a survey that showed China's manufacturing rose to a seven month high in October, suggesting continued momentum for the recovery in the world's second-biggest economy.
The preliminary version of HSBC's purchasing managers' index rose to 50.9 from September's 50.2 on a 100-point scale on which numbers above 50 indicate expansion.
Brent crude fell 81 cents to US$106.99 a barrel on the ICE Futures exchange in London.
In other energy futures trading on the Nymex:
— Wholesale gasoline added 4 cents to US$2.59 a gallon.
— Natural gas rose 1 cent to US$3.63 per 1,000 cubic feet.
— Heating oil shed 2 cents to US$2.90 a gallon.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
