For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Oil prices ease in Asia on Gaza truce, eurozone data

    By Super
    |
    Oil prices ease in Asia on Gaza truce, eurozone data
    Oil prices fell in Asia today in thin trade following the US Thanksgiving holiday, with a truce in Gaza and gloomy eurozone manufacturing data weighing on markets, analysts said. New York's main contract, light sweet crude for delivery in January shed 59 cents to USD 86.79 a barrel and Brent North Sea crude for January delivery sank 19 cents to USD 110.36. "Oil dipped in thin trade, as a ceasefire in the Gaza Strip eased supply concerns," Phillip Futures said in a report. "Gloomy manufacturing data for Europe" also pulled down prices, he said. An uneasy peace continued to hold in Gaza after the Egyptian-brokered ceasefire came into effect late Wednesday and halted eight days of conflict between Israel and Hamas. Israel Prime Minister Benjamin Netanyahu said yesterday his government was "giving the ceasefire a chance" but was prepared for the eventuality it could collapse.
     

    In Europe, a closely-watched survey by research firm Markit showed the troubled region's manufacturing activity in November little changed from lows experienced in October. Markit's eurozone Purchasing Managers Index (PMI) for the month of November stood at 45.8 points, "up fractionally from 45.7 in October... October's reading had been the lowest since June 2009," the survey's report said. "For the fourth quarter of 2012 so far, PMI data suggest the strongest contraction of output since the second quarter of 2009."

    (AFP)

    Read more about: crude oil
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more