04 May 2012 13:04 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures fell by more than $1/bbl on Friday ahead of the release of key ?xml:namespace>
At 11:27 GMT, June Brent crude on
June NYMEX light sweet crude futures (WTI) were trading at $101.22/bbl, down by $1.32/bbl on the previous close. Earlier, the
The US dollar strengthened against other leading currencies on Friday amid ongoing worries over economic health of the eurozone. The stronger US dollar made dollar-denominated commodities such as crude less attractive to international investors.
Traders also awaited the release of closely followed
Markit, the financial information service provider, released its eurozone composite purchasing managers index (PMI) which revealed a decline to 46.7 in April from 49.2 in March. The fall in the PMI Index indicates a significant contraction in eurozone private sector which the Markit attributed to weak manufacturing exports and declines in new business.
Recent weak economic data from Europe and the
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