Reports indicate wavering of economic recovery: crude oil falls

17-Jul-10
Reports of a slowdown in US manufacturing has raised worries that fuel demand will slow. This information ahs pulled down crude oil prices for the third consecutive day to US$76.4 a barrel. Oil prices trimmed earlier gains made after a rally in US equities. Manufacturing in New York and Pennsylvania dropped, part of a nationwide decline in factory production of 0.4% in June. Growth was also reported to have slowed in China to 10.3% in Q2. The Federal Reserve Bank of New York reported that its general economic index fell to 5.1 in July from 19.6 the prior month. Crude oil prices are expected to fall next week after government reports signaled lowdown in US economic recovery, negatively impacting fuel demand.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha