Thu, 04 Mar 2021 Today's Paper

Oil prices extend gains on strong US data

28 August 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

A A A


AFP - Crude extended gains in Asia yesterday, following a 10 percent price surge in the previous session fuelled by strong US economic data.
US benchmark West Texas Intermediate (WTI) for October delivery rose 52 cents to $43.08 while Brent crude for October gained 23 cents to $47.79 in late-morning trade.
Both WTI and Brent on Thursday closed up 10.3 percent, after hovering around six-and-a-half year lows all week on concerns about China’s faltering economy.
“We are seeing very strong volumes in Asian trading... there’s a bit of shock and disbelief at the strength of the US economic data,” Michael McCarthy, chief market strategist at CMC Markets 
in Sydney, told AFP.

The rally comes after the Commerce Department reported the US economy expanded at an annual rate of 3.7 percent in the second quarter, sharply above the initial appraisal of a 2.3 percent gain.
The more robust April-June growth mainly reflected higher investment, state and local government spending, and consumer spending than was reported in the initial estimate.
McCarthy said investors were also buoyed by strong data on US durable manufactured goods and crude inventories.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




People at a loss as.... COVID vaccination programme hits a snag

The much awaited vaccination drive for Sri Lankan healthcare staff began on J

42 trees felled; Ambagamuwa PS Chairman - a law unto himself ! Unjust enrichment via natural resources

Ambagamuwa Pradesha Sabha (PS) Chairman Jayasanka Perera was allegedly accuse

The Man Behind Moves to Form the “BJP” in Sri Lanka

The flower bud is the accredited electoral symbol of the Sri Lanka Podujana P

Is it a giant leap backwards in the name of patriarchy?

154 years after the Sri Lanka Police was established, an Acting Woman Deputy

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.