Oil trades up on growing supplies and improved Chinese manufacturing

Note: This section contains information in English only.
Source: Bloomberg
© scanpix/reuters
Oil was trading close to its highest level in three days as Chinese manufacturing expanded and stockpiles dropped unexpectedly in the U.S. The inventory of crude fell 1.47 million barrels the last week. Contracts on oil were slightly changed after yesterday's advance of 0.7%. Futures on Crude for January were at $ 87.54 a barrel, soaring 16 cents on the New York Mercantile exchange, whereas Brent oil futures for January lost 12 cents to $ 110.74 a barrel on the ICE Futures Europe exchange.


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Thu, 22 Nov 2012 11:35:59 GMT

China's manufacturing expands first time in more than a year

China's manufacturing sector expanded for the first time in more than a year, signalling that economic growth in the world's second-largest economy is rebounding following a 7-quarter slowdown. The preliminary reading of PMI was 50.4 released today by Markit Economics and HSBC Holdings Plc compared to 49.5, a final level in October.  

Thu, 22 Nov 2012 12:33:37 GMT

Aussie appreciates on Chinese factory growth

The Aussie halted its two-day drop as China's manufacturing showed growth signs the first time in more than year. The Australian Dollar traded up 0.2% to $ 1.0387, after declining 0.4% throughout the prior two days. Meanwhile, the currency appreciated 0.2% against the yen to 85.791, after Asian stocks advanced, fostering appetite for higher-yielding assets.

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