Markets
Stockpiles down as US oil nears $85.60 per barrel
SINGAPORE : U.S. crude rose above $1 towards $85.60 a barrel on expectations of a drop in stockpiles and ongoing tensi
SINGAPORE: U.S. crude rose above $1 towards $85.60 a barrel on expectations of a drop in stockpiles and ongoing tension in Libya, offseting weak data from China.
U.S. crude inventories were forecast to have fallen last week due to lower imports, a preliminary Reuters poll showed on Monday ahead of weekly data.
HSBC's China Flash PMI showed its factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders.
Copyright Reuters, 2011
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