Oil Hits $81 –

Oil moved above $81 a barrel on manufacturing data and an improved outlook for Chinese growth.  Manufacturing data fell but not as much as expected and that was one factor in the brief rise in crude oil.  A strong performance in global equity markets also indicated to some traders that the economy was improving which would increase demand for oil.

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/news/2010-08-02/oil-climbs-to-three-month-high-on-outlook-for-chinese-growth.html

Jim Sutliff

This entry was posted in Banking, Bonds, Economic News, Gasoline, Investments, Oil, Options & Futures, Stocks. Bookmark the permalink.