Crude oil eased up on dip buying

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Source: Forexpros
Crude oil futures increased slightly during Asian trading hours on Thursday after recent fall after dismal US labour and EU manufacturing data that pressured crude oil price. Lower crude oil price created bargain buying opportunities for traders. Light, sweet crude oil futures for June delivery traded at 105.27 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.05% from the last session's low of 105.25 US Dollars per barrel.


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Thu, 03 May 2012 08:17:51 GMT

New vehicle sales in Australia soared by 7.6% last month

New auto sales in Australia soared by 7.6% on a seasonally adjusted basis in April, according to official data. Sales of cars approached 79,097 vehicles in April, reported the Federal Chamber of Automotive Industries. Meanwhile, passenger cars sales dropped by 2.5% last month whereas sport utilities sales soared by 27.9%.

Thu, 03 May 2012 07:29:51 GMT

Rio Tinto: Long-term commodity outlook remains positive

Rio Tinto PLC expects the demand for its minerals and metals to remain strong in long-run while the demand for cooper is likely to surpass the world's supply in the next few years. However, coal production became more challenging in Australia as capital costs surged and investors demand more return on capital, Ton Abanese, the CEO of Rio Tinto said.

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