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New York oil prices fell on the 23rd
Source:Chinese fertilizer   Author:Huai Lei   Time:2012-08-24   Read:664second  

 By the impact of a series of negative economic data, New York oil prices decline in the 23rd, but London oil prices are subject to supply concerns in promoting rose slightly.

The same day, the U.S. Labor Department released data show that as of August 18 week, U.S. initial jobless claims increased to 4,000 the total number reached 37.2 million people, higher than market expectations, also the five weeks since the highest level. In the same time, more representative of the four-week moving average also rose, indicating that the slow recovery in the U.S. job market.
Meanwhile, weak economic data in Europe and China, adding to the market on concerns about global oil demand. The August European manufacturing purchasing managers index initial 45.3 increase compared with July, but still less than 50, indicating that the European manufacturing atrophy. And manufacturing activity in Germany and France are also shrinking, exacerbating market concerns about the economic situation in Europe.
In addition, China's August manufacturing index fell to 47.8, the lowest for nine months, the signs of economic slowdown in China increased.
However, the supply demand concerns still to oil prices upward momentum. North Sea oil production cuts, the tensions of the Middle East as well as the Atlantic tropical storm surges and other factors threaten global oil production, to limit the oil price decline, and a stronger role in promoting London oil prices more globally representative.
To close the day, the New York Mercantile Exchange, light sweet crude for October delivery fell 99 cents to close at $ 96.27 a barrel, down 1.02%. North Sea Brent crude oil futures prices for October delivery rose 10 cents to close at $ 115.01 a barrel, or 0.09%. (Huai Lei)
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