Oil going up on the positive statistics from China
World oil prices rise on Monday against the publication of preliminary data on managers’ index for purchases in China, news agency RIA Novosti reported with reference to these tenders.
The cost of the December futures on U.S. light crude oil WTI (Light Sweet Crude Oil) in electronic trading in New York at 14.46 GMT rose by 0.71 dollars or 0.81% – up to 88.11 dollars per barrel. December futures price for North Sea petroleum mix of mark Brent rose by $ 1.02, or 0.93% – up to 110.58 dollars per barrel.
“The bottom line is that the weak demand in developed countries offset rising in developing”, – said an analyst with Jefferies Bache Christopher Bellew.
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