Oil prices mixed in Asian trade

13-Mar-13

New York's main contract, light sweet crude for delivery in April rose to US$92.2 a barrel, while Brent North Sea crude for April delivery dipped to US$110.1 in volatile trading. Oil prices were mixed in Asian trade as a lift in regional stock markets was dampened by concerns of a slowdown in China's economy, as per Businesss Standard India. Most regional stocks have been buoyed on improving data out of the United States, where upbeat jobs numbers are fuelling optimism over the health of the world's biggest economy. Official figures released at the end of last week showed US unemployment rate slipped to a four-year low of 7.7% and jobs growth picked up more than expected. However, data from China has signaled a slowdown, with inflation hitting a 10-month high in February while growth in industrial production and retail sales eased.