Oil up to $67 on dollar slip, China growth - Reuters

| | Comments (0) | TrackBacks (0)
SINGAPORE (Reuters) - Oil edged up to $67 a barrel on Wednesday, recovering from the previous day's losses as the dollar weakened against the euro and resource currencies like the Australian dollar.

Mahindra vehicles diesel tanks

This allowed crude to reverse losses from the previous day, when U.S. crude and distillates stock builds, a downgrade to U.S. energy demand and low consumer confidence data continued a string of bearish signals that has put crude on course for its first quarterly fall this year. Not all news has been negative, with U.S. house prices rising for a third month, while a Chinese purchasing managers index for September released on Wednesday showed strong growth continues in the world's second-largest oil consumer.

Full Story: Oil up to $67 on dollar slip, China growth - Reuters

0 TrackBacks

Listed below are links to blogs that reference this entry: Oil up to $67 on dollar slip, China growth - Reuters.

TrackBack URL for this entry: http://www.hydraulic-oiltanks.com/cgi-bin/mt/mt-tb.cgi/8712

Leave a comment