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IV:Oil little changed after spate of positive data points
 
Investing.com - Oil futures were little changes in the early part of Friday’s Asian session following a decent showing in the U.S. Thursday amid a raft of solid global data points.

On the New York Mercantile Exchange, light, sweet crude futures for October delivery inched up 0.01% to USD105.04 per barrel in Asian trading Friday. The October contract settled up 1.14% at USD105.03 per barrel on Thursday.

Oil got a lift Thursday after a preliminary reading of China’s HSBC manufacturing PMI rose to a 4-month high of 50.1 in August from 47.7 in July. Analysts were forecasting a 48.3 reading. China is the world’s second-largest oil consumer behind the U.S.

Later Thursday, London-based Markit Economics reported earlier that its flash euro zone manufacturing purchasing managers’ index rose to 51.3 in August from a final reading of 50.3 in July.
Analysts were expecting the index to come in at 50.8.

The flash euro zone services PMI rose to a 24-month high of 51.0 from 49.8 in July, better than market calls for a 50.2 reading.

In U.S. economic news out Thursday, initial claims for jobless benefits fell by 15,000 to 320,000 last week. That is the lowest reading since October 2007, according to the U.S. Labor Department. Economists expected a reading of 335,000. The less volatile four-week moving average fell 4,000 to 332,000, the lowest level since November 2007.

The Conference Board’s index of leading economic indicators rose 0.6% last month after being flat in June. Eight of the ten indicators that comprise the index improved last month, including employment, improved equity markets, loan growth and building permits.

Elsewhere, Brent futures for October delivery rose 0.06% to USD110.00 per barrel on the ICE Futures Exchange.
Source