Oil Jumps $1 on US Factory Data
Oil rose more than a $1 a barrel on increased optimism the global economy is recovering after the release of stronger manufacturing data from the US. Light Crude increased $1.13 on Monday to close at $78.13 and London Brent Crude rose $1.35 t $76.55. “A string of economic data led by higher US manufacturing numbers gave the oil markets a shot in the arm,” said Phil Flynn, an analyst at PFGBest Research in Chicago.
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Oil Jumps $1 on US Factory Data
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