WTI crude futures are trading in positive territory boosted by positive Industrial Production out of the US and strong Manufacturing PMI data from China. US Industrial Production saw the largest gain since November 2010 and Chinese Manufacturing PMI printed at 14-month highs. Data out of China shows the country is rebounding so demand for oil could well increase. Also supporting price increases in crude was continued unrest in the Middle East with Syria, Egypt and Turkey all dominating geopolitical headlines today. Another contributory factor has been BP delaying the restart of their 250,000BPD Whiting refinery. Heading into the close, volatility was observed in Brent crude futures as participants closed positions due to a futures expiry at 1930GMT/1330CST.
14 Dec 2012 - 19:31 - - Source: RANsquawk
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