Crude oil prices mixed in Asian trade

PTI Singapore | Updated on November 20, 2017

Oil prices were mixed in Asia today with downward pressure coming from a slip in US industrial output, analysts said.

New York’s main contract, light sweet crude for delivery in March, eased 14 cents to $95.72 a barrel, while Brent North Sea crude for delivery in April added 26 cents to $117.92.

Trading was restrained “after an unexpected dip in US industrial production spurred concerns about lagging economic activity”, Phillip Futures said in a report.

Official data on Friday showed industrial production in the United States — the world’s largest economy and oil consumer — contracting 0.1 per cent in January, with manufacturing output falling 0.4 per cent.

“Economists had been expecting a modest increase in industrial output in January,” Phillip Futures said.

Published on February 18, 2013

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like