FX & CFD trading involves significant risk
Oil prices have not changed in the course of trading , stabilized with near four-month low as the dollar weakened against most currencies , as signs of growth in the service sector in China and the jump in orders in the U.S. has become a factor increasing the demand outlook for energy.
Combination studies that have been carried out of China Federation of Logistics and Purchasing and the National Bureau of Statistics showed that China's non-manufacturing sector grew at a faster pace in October than in the previous month . According to the report , the official purchasing managers' index (PMI) for the service sector rose last month to the level of 56.3 points , compared to 55.4 points in September. Recall that in August, the value of this index was at 53.9 . Meanwhile, data showed that the volume of new orders in the service sector continued to grow in October, but to a lesser extent than in the previous month. Looking ahead, the non-manufacturing firms expect their business conditions to improve over the next three months.
Recall that on Friday , survey data released by the Bureau of Statistics showed that the growth of industrial production in China reached a 18-month high in October , as the company increased production. PMI for the manufacturing sector rose to 51.4 points, compared with 51.1 in September.
As for the U.S. data , they showed that in September promzakazy in the U.S. increased by 1.7 % compared to 0.1 % a month earlier. The result is almost coincided with market expectations . Also published a belated data for August : index fell by 0.1 % against 2.4% in July.
Note also that in the course of today's trading has affected the official statement of the Ministry of Oil Libya Ibrahim Al Awami . He said that the country is preparing to increase production and to restore operations at some export terminals. Meanwhile, the official added that Libya has the largest oil reserves in Africa, over the weekend increased production of raw materials up to 400 thousand barrels. This is approximately 100 thousand barrels more than at the beginning of the week. According to him, " soon" will resume the work of one of the country's export terminals , namely Hariga.
The cost of the December futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 94.52 a barrel on the New York Mercantile Exchange.
December futures price for North Sea Brent crude oil mixture fell $ 0.16 to $ 105.70 a barrel on the London exchange ICE Futures Europe.
|remaining time till the new event being published|