mf.cz

Při poskytování služeb nám pomáhají soubory cookie. Používáním našich služeb vyjadřujete souhlas s naším používáním souborů cookie. Další informace

www.finance.czZprávy

NYMEX-Crude slips as China manufacturing cools

02.08.2010 , Reuters

SINGAPORE, Aug. 2 (Reuters) - Oil futures slipped from near 12-week highs after China's manufacturing sector cooled further last month and the U.S. economy slowed in the second quarter, and traders expect trading to remain rangebound.

U.S. September crude <CLc1> shed 10 cents to $78.85 a barrel at 2314 GMT, while ICE Brent <LCOc1> was unchanged at $78.18.

Attention this week will remain on economic data from the world's top two oil consumers, the United States and China, for further indications about energy demand growth.

A forming tropical cyclone in the mid-Atlantic lent support to oil prices as the hurricane season enters what in recent years has been a period of peak activity between August and early October.

FUNDAMENTALS

* Front-month U.S. crude on Friday rose 59 cents to $78.95, capping a 4.35 percent gain for July, shrugging off earlier concerns about the pace of economic growth amid mixed macroeconomic indicators and lifted by a late rally in commodities and refined products futures as August contracts expired. [ID:nSGE66T06J]

* China's official purchasing managers' index (PMI) fell to a 17-month low in July of 51.2 from 52.1 in June, the China Federation of Logistics and Purchasing (CFLP) said on Sunday. The PMI is designed to provide a timely snapshot of business conditions and a figure above 50 indicates expansion. [ID:nTOE670008]

* U.S. gross domestic product expanded at a 2.4 percent annual rate, compared to expectations for growth of 2.5 percent, after a revised 3.7 percent growth pace in the first quarter.

* A tropical depression may be forming in the mid-Atlantic, the U.S. National Hurricane Center (NHC) said late on Sunday, assigning an 80 percent likelihood that the system may become a tropical cyclone within the next 48 hours.

MARKETS NEWS

* Wheat closed up 5.4 percent on Friday, capping its best month since at least 1959 and outperforming the rest of the commodity complex in July, as a drought around the Black Sea hit crops in a key global supply region. [ID:nN30179807]

* Global stocks and the U.S. dollar slid on Friday as investors trimmed risk exposure on data showing the U.S. economy slowing a bit more than expected even as other news suggested a slow, steady recovery. [MKTS/GLOB]

DATA/EVENTS

* The following data is expected on Monday:

- Eurozone Markit manufacturing PMI, July

- U.S. construction spending, June

- U.S. ISM manufacturing PMI, July