Egypt posts record EGP629b primary surplus in 2024/25    EGP swings vs. USD in early Sunday trade    EGX launches 1st phone app    Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Oil Futures Fall Sharply On China Data
Published in Amwal Al Ghad on 21 - 06 - 2012

Oil futures fell sharply in electronic trading on Thursday, extending heavy losses made the previous day, after weak Chinese data raised further concerns about demand trends.
Benchmark U.S. crude oil for July delivery lost 1.3% or $1.07 to trade at $80.38 a barrel in electronic trading during Asian hours.
Data out Thursday showed China's manufacturing sector contracting further, as HSBC said the inital or “flash" version of its manufacturing Purchasing Managers' Index hit a seven-month low in the current month.
On Wednesday, oil dropped $2.23, or 2.7%, to end at $81.90 a barrel on the New York Mercantile Exchange, the lowest close for a front-month contract since Oct. 5., as investors fretted about supply data.
A report from the Energy Information Administration showed crude supplies rose by 2.9 million barrels in the week ended June 15. That contrasted with expectations of a decline of 600,000 barrels for the week, according to analysts polled by Platts.
A rising U.S. dollar also pressured crude, as the dollar index DXY +0.12% traded at 81.606 Thursday, up from 81.567 in late North American trading on Wednesday.
Elsewhere in the energy complex, July futures for gasoline RBN2 -0.64% lost 2 cents, or 0.7%, to trade at $2.572 a gallon. Heating oil for July delivery HON2 -0.25% lost 1 cent, or 0.4%, to trade at $2.577 per gallon.
July natural-gas futures NGN12 +2.07% rose 2 cents, or 0.8%, to trade at $2.54 per million British thermal units.


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