Fresh stimulus hopes in USA amid disappointing Chinese industrial output numbers impact oil prices

As traders balanced US stimulus hopes with disappointing numbers from China, crude oil was mixed in Asia. New York’s main contract, light sweet crude for delivery in October, dipped to US$96.2 a barrel, while Brent North Sea crude for October delivery inched up to US$114.3. Market anticipates fresh US stimulus after a disappointing jobs report. US jobs data released on Friday showed addition of just 96,000 jobs in August while the official number of jobless fell by a quarter of a million people to 12.5 million. About 368,000 people are reported to have given up searching for jobs and have left the labour force, leading to a substantial net rise in the total number of working-age Americans out of work. In China, data released by the National Bureau of Statistics showed industrial production increasing by 8.9% year-on-year last month, the lowest figure since a similar rise of 8.9% in May 2009.
  More News  Post Your Comment
{{comment.Name}} made a post.




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