Oil futures are trading lower in the early going of Friday’s Asian session despite a trio of solid economic reports delivered by the U.S. on Thursday.
On the New York Mercantile Exchange, light, sweet crude futures for April delivery fell 0.42% to USD91.67 per barrel in Asian trading Friday. The declines may be the result of China’s latest PMI number.
Earlier today, official data showed China’s February PMI fell to 50.1 from 50.4 in January. Economists expected a February reading of 50.5. Readings above 50 signal expansion, though China’s reading is barely in expansion territory. China is the world’s second-largest oil consumer. Continue Reading...
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