Improving US demand outlook lifts oil
10/11/2014 09:18
Crude oil futures ended higher in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity as American employers boosted payrolls by over 200,000 for the ninth month in a row and the jobless rate fell to a six-year low in October 2014, signaling a pickup in the labour market of the world’s biggest economy, lifting the demand outlook for the fuel.
The US economy added 214,000 workers in October 2014, after a revised gain of 256,000 in the previous month, the Labour Department said in a report on Friday. The unemployment rate fell to the lowest level since July 2008 at 5.8 per cent in October 2014 from 5.9 per cent in the previous month.
German industrial output and exports rebounded in September, easing fears of a recession in Europe’s biggest economy, lifting the demand outlook for the fuel. German industrial output rose 1.4 per cent in September from the previous month, when it contracted 3.1 per cent. German exports climbed 5.5 per cent in September, after a 5.8 per cent contraction in August.
Crude futures may rise today as China’s October trade data topped estimates, lifting the demand outlook for the fuel in the world’s second biggest fuel consumer.
At the MCX, Crude Oil futures, for the November 2014 contract, closed at Rs 4,861 per barrel, up by 0.98 per cent, after opening at Rs 4,791, against a previous close of Rs 4,814. It touched an intra-day high of Rs 4,885
10/11/2014 09:18
Crude oil futures ended higher in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity as American employers boosted payrolls by over 200,000 for the ninth month in a row and the jobless rate fell to a six-year low in October 2014, signaling a pickup in the labour market of the world’s biggest economy, lifting the demand outlook for the fuel.
The US economy added 214,000 workers in October 2014, after a revised gain of 256,000 in the previous month, the Labour Department said in a report on Friday. The unemployment rate fell to the lowest level since July 2008 at 5.8 per cent in October 2014 from 5.9 per cent in the previous month.
German industrial output and exports rebounded in September, easing fears of a recession in Europe’s biggest economy, lifting the demand outlook for the fuel. German industrial output rose 1.4 per cent in September from the previous month, when it contracted 3.1 per cent. German exports climbed 5.5 per cent in September, after a 5.8 per cent contraction in August.
Crude futures may rise today as China’s October trade data topped estimates, lifting the demand outlook for the fuel in the world’s second biggest fuel consumer.
At the MCX, Crude Oil futures, for the November 2014 contract, closed at Rs 4,861 per barrel, up by 0.98 per cent, after opening at Rs 4,791, against a previous close of Rs 4,814. It touched an intra-day high of Rs 4,885
