Oil on the Nymex propped up to US$95.9 a barrel on the Nymex, on positive economic data from USA and China. As per The Associated Press, HSBC’s monthly purchasing managers’ index, which gauges manufacturing activity in China, rose for the fifth consecutive month in January to 51.9 from December’s 51.5. Readings above 50 indicate expansion. More manufacturing means more energy consumption, which should push oil prices higher. In USA, the number of Americans applying for unemployment benefits fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.
25-Jan-13 
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