Oil prices dwell near $92 as U.S. manufacturing improvesOctober 2, 2012 - 10:30 AMT PanARMENIAN.Net - Oil prices dwelled near $92 a barrel Tuesday, Oct 2, in Asia after a report showed U.S. manufacturing rose in September for the first time in four months, AP reports. Benchmark oil for November delivery was down 17 cents to $92.31 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract closed up 29 cents at $92.48 in New York on Monday after a report showed U.S. manufacturing grew in September for the first time in four months. Brent crude, which is used to price international varieties of oil, was down 18 cents to $112.01 on the ICE Futures Exchange in London. Analysts at Capital Economics said in a market commentary that the boost in oil prices following the Federal Reserve's announcement of a third round of bond buying to help boost the U.S. economy was starting to wane. Instead, the focus would likely "return to the deterioration in underlying economic and financial conditions that made the additional stimulus necessary in the first place," the analysts said. Last month, the Fed announced another round of bond buying, known as quantitative easing, and said it would consider providing additional support to the U.S. economy until the labor market showed substantial improvement. A glimpse of the U.S. jobs picture will come Friday, when the Labor Department releases employment data for September. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. |