Arab Today, arab today oil prices rise on us china data
Last Updated : GMT 08:04:25
Arab Today, arab today
Arab Today, arab today

Oil prices rise on US, China data

Arab Today, arab today

Arab Today, arab today Oil prices rise on US, China data

London - AFP

Oil prices rose on Thursday following positive US and Chinese economic indicators that may lead to a boost in demand for crude, according to analysts. Brent North Sea crude for delivery in September jumped $1.01 to stand at $108.71 a barrel approaching midday in London. New York\'s main contract, West Texas Intermediate for September, climbed $1.20 to $106.23 a barrel. \"Oil prices remain supported by the US Fed\'s clear signal regarding retaining monetary stimulus for now,\" David Lennox, resource analyst at Fat Prophets, told AFP. After a two-day meeting, the Fed\'s policy committee on Wednesday said growth was at a \"modest\" pace and pledged to keep its $85 billion-a-month bond-buying programme in place for now. Also on Wednesday, Washington said that gross domestic product grew 1.7 percent in April-June, above the 1.1 percent pace expected by analysts -- although it also included a steep downgrade in growth for the previous three months to 1.1 percent from 1.8 percent. The United States is the world\'s biggest consumer of crude oil, while China is the biggest overall energy user. Traders are also keeping an eye on China, where the official purchasing managers\' index (PMI) of manufacturing activity rose to 50.3 last month from 50.1 in June, a rare piece of upbeat news from the Asian economic giant, which has been slowing for several months. A reading below 50 indicates contraction, while anything above signals growth. A separate survey by banking giant HSBC released soon after the official data confirmed its own preliminary findings released last week that showed its PMI at 47.7 in July, down from 48.2 in June.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil prices rise on us china data Arab Today, arab today oil prices rise on us china data

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil prices rise on us china data Arab Today, arab today oil prices rise on us china data

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday