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Author	Topic: Oil rises, as China data trump inventory numbers	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,065 Points:1,697,875 Joined:Jan 2007	Message Posted: Jan 24, 2013 8:54:40 AM Ignore brbaritone Report Abuse Benchmark U.S. oil futures moved higher in electronic trade Thursday, as upbeat Chinese data trumped higher-than-expected crude inventories and a stronger dollar. Crude oil for March delivery rose 35 cents, or 0.4%, to $95.58 a barrel during East Asia business hours, rebounding from a 1.5% drop during Wednesday’s regular New York Mercantile Exchange session. Meanwhile, Brent crude for March slipped a penny to $112.79, further narrowing the spread between the New York and London benchmarks. The gains for Nymex crude came after the preliminary reading of a monthly HSBC survey of Chinese manufacturers showed further improvement for the sector. --- Given China’s large appetite for oil, its economy serves as a key focus for energy-futures investors, as GFT Markets Analyst Fawad Razaqzada ... Visit MarketWatch for full article

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Benchmark U.S. oil futures moved higher in electronic trade Thursday, as upbeat Chinese data trumped higher-than-expected crude inventories and a stronger dollar.

Crude oil for March delivery rose 35 cents, or 0.4%, to $95.58 a barrel during East Asia business hours, rebounding from a 1.5% drop during Wednesday’s regular New York Mercantile Exchange session.

Meanwhile, Brent crude for March slipped a penny to $112.79, further narrowing the spread between the New York and London benchmarks.

The gains for Nymex crude came after the preliminary reading of a monthly HSBC survey of Chinese manufacturers showed further improvement for the sector.
---
Given China’s large appetite for oil, its economy serves as a key focus for energy-futures investors, as GFT Markets Analyst Fawad Razaqzada ...
Visit MarketWatch for full article

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sjf238 Champion Author Philadelphia Posts:1,215 Points:647,955 Joined:Mar 2011	Message Posted: Jan 25, 2013 12:52:43 PM Ignore sjf238 Report Abuse ok
jrs4125 Champion Author Indiana Posts:2,758 Points:591,745 Joined:Sep 2011	Message Posted: Jan 25, 2013 9:43:22 AM Ignore jrs4125 Report Abuse Dooooooh
doctorindyj Champion Author Santa Fe Posts:3,453 Points:839,810 Joined:Nov 2009	Message Posted: Jan 24, 2013 12:15:13 PM Ignore doctorindyj Report Abuse Any excuse.
Jeff4U Champion Author Atlanta Posts:8,756 Points:1,852,370 Joined:Nov 2004	Message Posted: Jan 24, 2013 10:31:31 AM Ignore Jeff4U Report Abuse Crude now: $96.05 (+0.82)
Zuegma All-Star Author Nova Scotia Posts:988 Points:257,905 Joined:Aug 2012	Message Posted: Jan 24, 2013 10:31:09 AM Ignore Zuegma Report Abuse Gas prices are befuddled by too many alledged factors.
WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Jan 24, 2013 10:21:12 AM Ignore WalkingWV Report Abuse 35¢ spike at the pumps yesterday. now $3.49, disgusting!
Buckeyee Champion Author Maine Posts:4,610 Points:899,755 Joined:May 2010	Message Posted: Jan 24, 2013 10:06:35 AM Ignore Buckeyee Report Abuse Just think, 4 more years of no government intervention of rampant oil speculation. The democrats know not to bite the hand that paid for their elections.
humblepie Champion Author Toledo Posts:34,231 Points:2,371,370 Joined:Mar 2006	Message Posted: Jan 24, 2013 9:50:06 AM Ignore humblepie Report Abuse $95.91 right now
knutzAL Champion Author Alabama Posts:2,248 Points:372,680 Joined:Feb 2012	Message Posted: Jan 24, 2013 9:39:34 AM Ignore knutzAL Report Abuse Why is this G'ment agency, the inventory numbers, manipulating the dang price? So insiders can bet the right way and make mucho dinairo!
brbaritone Champion Author Virginia Posts:2,065 Points:1,697,875 Joined:Jan 2007	Message Posted: Jan 24, 2013 8:56:11 AM Ignore brbaritone Report Abuse The article continues: ... noted in comments just ahead of Thursday’s data. “Fundamentally oil remains bid, thanks, in part, to the recent upturn in Chinese data. This has boosted demand expectations from the world’s second largest consumer of oil,” Razaqzada wrote. Nymex crude’s modest advance came in the face of several headwinds, including a stronger U.S. dollar. The ICE dollar index advanced to 80.041 Thursday, up from late Wednesday’s 79.938. A rising dollar often depresses oil prices as it makes the commodity more expensive to holders of other currencies. The gains also followed a larger-than-expected build in U.S. crude-oil inventories, according to the American Petroleum Institute’s weekly report, released late Wednesday. The API report showed crude supplies for the week ended Jan. 18 rose by 3.2 million barrels, beating expectations for a 2 million-barrel climb from a Platts survey of analysts.
merlinCO Champion Author Colorado Posts:1,640 Points:341,395 Joined:Mar 2012	Message Posted: Jan 24, 2013 8:56:10 AM Ignore merlinCO Report Abuse Speculators and Saudia Arabia win again over what the truth is.
HoosierDaddyKY Champion Author Kentucky Posts:1,272 Points:297,160 Joined:Dec 2011	Message Posted: Jan 24, 2013 8:55:56 AM Ignore HoosierDaddyKY Report Abuse You don't say...