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Oil mixed in Asian trade

Oil mixed in Asian trade

Oil was mixed in Asian trade yesterday as investors digested a stream of contrasting U.S. data, analysts said.
New York's main contract, light sweet crude for October delivery rose US$0.52 to US$74.77 a barrel.
Brent North Sea crude for October delivery fell US$0.32 to US$77.15.
The U.S. Department of Energy (DoE) in a report on Thursday said crude stocks last week dropped by a modest 1.9 million barrels from the previous week.
But the private American Petroleum Institute (API) estimated on Wednesday that stocks had plunged 7.3 million barrels over the same period.
On the U.S. economic front, data out on Thursday showed new claims for jobless benefits for the week to September 4 fell to 451,000, down 27,000 from the previous week's revised figure.
The latest figure was better than most economists' expectations of 470,000 new claims, sparking optimism that recent negative trends were just a blip on the road to recovery.


Updated : 2021-06-22 18:06 GMT+08:00