Set as homepage  |  Add to Favorites
Navigation
News Center
Link
 
AAC Machine
AAC Plant
Probiotic Machine
News Center
 
Oil rises on unexpected U.S. inventories drop
Date: 2010/12/17 Click: 916
Crude prices rose on Wednesday as U.S. crude oil inventories registered an unexpected drop last week.

The Energy Information Administration (EIA) said U.S. crude oil inventories fell sharply by 9.9 million barrels in the Dec. 10 week, mainly caused by a drop in oil imports and strong refinery demand.

The drop was the most in eight years, surprising the analysts and giving oil prices a boost.

On Wednesday, the economic data continued to be positive. According to the Federal Reserve Bank of New York's Empire State Manufacturing Survey, New York manufacturing activity rebounded this month. Data showed the Empire State's business conditions index jumped to 10.57 in December from -11.14 in November, while economists were expecting a much more modest gain. This made investors more confident in the recovery and lifted the oil prices.

Light, sweet crude for January delivery gained 34 cents to 88. 62 U.S. dollars a barrel on the New York Mercantile.
Copyright © 2003-2013 Hopeland Chem-Tech Co., Ltd. All rights reserved.
Add.: Rm. B-1708, Taaffeite International Commerce Plaza, 4th Gaoxin Road, Xi'an City, Shaanxi Province, China
Postal Code: 710075
Cell phone: +86 135 7190 0119
Tel: +86 29 6296 0726
Fax: +86 29 6296 0725
Email: 85xianji@85xianji.com / icec0529@yahoo.com
Website: www.hopeland-cn.com


Web Stats: