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Oil Slips on European Manufacturing Data

Reuters -- Oil eased on Wednesday as weak economic data in Europe hit the demand outlook, countering more positive figures from China and the United States.

Brent crude [LCOCV1 119.22 -0.44 (-0.37%) ] slipped 30 cents to $119.36 a barrel, after settling 19 cents higher at $119.66 on Tuesday.

U.S. light, sweet crude [CLCV1 105.64 -0.52 (-0.49%) ] was down 41 cents at $105.75.

The euro zone's manufacturing sector slipped further into decline last month as a downturn that started in the periphery appeared to be taking root among core members France and Germany, a survey showed on Wednesday.

Germany's manufacturing sector shrank at the fastest pace in nearly three years in April, and manufacturing activity in France, Italy and Greece also retreated while unemployment in Germany

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Submitted May 02, 2012 By: WxVette
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qwerty17
Champion Author New Jersey

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Message Posted: May 2, 2012 8:25:46 PM
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slip & fall.
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Jeff4U
Champion Author Atlanta

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Message Posted: May 2, 2012 1:12:55 PM
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Oil slips on jobs data too.

From CNN:
The ADP report showed that the private sector added 119,000 jobs in April. That's considerably less than the forecast of 170,000 new jobs, according to a survey of analysts by Briefing.com. It's also a significant decline from the prior month, when the private sector added 201,000 jobs.

The ADP report typically sets the tone for the government's highly anticipated monthly jobs report, due Friday.
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VomVom
Champion Author Calgary

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Message Posted: May 2, 2012 9:13:44 AM
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The Euro Zone crisis isn't over yet. After Greece, there are Italy, Portugal and Spain. Not far behind is France. Their "paid by borrowed money" social programs are just way too expensive. No one can afford them.
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MidNJ
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Message Posted: May 2, 2012 8:26:39 AM
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Just reducing by baby steps, but better than it going up.
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"Consumers working together to save on gas"