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MTECHTIPS CRUDEOIL 1

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Crude oil futures fall to session low following downbeat euro zone PMIs
Crude oil futures fell to the lowest level of the session during European morning hours on Thursday, as investors sold growth-linked assets following the release of disappointing euro zone manufacturing data.On the New York Mercantile Exchange, light sweet crude futures for delivery in May traded at USD92.88 a barrel during European morning trade, down 0.7% on the day.New York-traded oil fell by as much as 0.8% earlier in the session to hit a daily low of USD92.80 a barrel.Market research group Markit said that its preliminary euro zone manufacturing purchasing managers’ index fell to a seasonally adjusted 46.6 in March from a final reading of 47.9 in February.Analysts had expected the index to ease up to 48.2 in March.Meanwhile, Germany’s manufacturing purchasing managers’ index fell to a seasonally adjusted 48.9 in March from a final reading of 50.3 in February, indicating contraction. Analysts had expected the index to tick up to 50.5.The report also showed that service sector activity in Germany expanded at the slowest rate in four months in March, with the services PMI falling to 51.6 from 54.7 in February.The data came after a report showing that the French manufacturing PMI came in at 43.9 in March, unchanged from February’s reading.Service sector activity in France fell to a 49-month low of 41.9 in March from a final reading of 43.7 in February.Meanwhile, in Cyprus, negotiations aimed at finding an alternative solution on a bailout deal for the tiny island continued after the country’s parliament rejected a controversial bank deposit tax in a vote on Tuesday.

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07489294118-119
MTECHTIPS
Crude oil futures fall to session low following downbeat euro zone PMIs
Crude oil futures fell to the lowest level of the session during European morning hours on Thursday, as investors sold growth-linked assets following the release of disappointing euro zone manufacturing data.On the New York Mercantile Exchange, light sweet crude futures for delivery in May traded at USD92.88 a barrel during European morning trade, down 0.7% on the day.New York-traded oil fell by as much as 0.8% earlier in the session to hit a daily low of USD92.80 a barrel.Market research group Markit said that its preliminary euro zone manufacturing purchasing managers’ index fell to a seasonally adjusted 46.6 in March from a final reading of 47.9 in February.Analysts had expected the index to ease up to 48.2 in March.Meanwhile, Germany’s manufacturing purchasing managers’ index fell to a seasonally adjusted 48.9 in March from a final reading of 50.3 in February, indicating contraction. Analysts had expected the index to tick up to 50.5.The report also showed that service sector activity in Germany expanded at the slowest rate in four months in March, with the services PMI falling to 51.6 from 54.7 in February.The data came after a report showing that the French manufacturing PMI came in at 43.9 in March, unchanged from February’s reading.Service sector activity in France fell to a 49-month low of 41.9 in March from a final reading of 43.7 in February.Meanwhile, in Cyprus, negotiations aimed at finding an alternative solution on a bailout deal for the tiny island continued after the country’s parliament rejected a controversial bank deposit tax in a vote on Tuesday.

WWW.MTECHTIPS.COM
07489294118-119

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Published by: MtechTips on Mar 21, 2013
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05/14/2014

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MTECHTIPS Crude oil futures fall to session low following downbeat euro zone PMIs

Crude oil futures fell to the lowest level of the session during European morning hours on Thursday, as investors sold growth-linked assets following the release of disappointing euro zone manufacturing data.On the New York Mercantile Exchange, light sweet crude futures for delivery in May traded at USD92.88 a barrel during European morning trade, down 0.7% on the day.New York-traded oil fell by as much as 0.8% earlier in the session to hit a daily low of USD92.80 a barrel.Market research group Markit said that its

preliminary euro zone manufacturing purchasing managers’ index fell to a seasonally adjusted 46.6 in March from a final reading of 47.9 in February.Analysts had expected the index to ease up to 48.2 in March.Meanwhile, Germany’s manufacturing purchasing managers’ index fell to a seasonally adjusted 48.9 in March from a final reading of 50.3 in February, indicating contraction. Analysts had expected the index to tick up to 50.5.The report also showed that service sector activity in Germany expanded at the slowest rate in four months in March, with the services PMI falling to 51.6 from 54.7 in February.The data came after a report showing that the French manufacturing PMI came in at 43.9 in March, unchanged from February’s reading.Service sector activity in France fell to a 49month low of 41.9 in March from a final reading of 43.7 in February.Meanwhile, in Cyprus, negotiations aimed at finding an alternative solution on a bailout deal for the tiny island continued after the country’s parliament rejected a controversial bank deposit tax in a vote on Tuesday.

WWW.MTECHTIPS.COM 07489294118-119

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