Oil prices mixed in Asia amid upbeat Chinese manufacturing dataJanuary 24, 2013 - 10:04 AMT PanARMENIAN.Net - Oil prices were mixed in Asia Thursday, Jan 24, with traders selling Brent crude for West Texas Intermediate (WTI), analysts said, but the market was lifted by upbeat Chinese manufacturing data, AFP reports. New York's main contract, WTI light sweet crude for delivery in March gained 26 cents to $95.49 a barrel while Brent North Sea crude for March delivery dropped 13 cents to $112.67. "Traders have been moving from Brent to WTI," said Jason Hughes, head of premium client management at IG markets Singapore. Sentiment was given a boost by data from British bank HSBC Thursday showing China's manufacturing activity in January hitting a two-year high. HSBC's preliminary purchasing managers' index (PMI) climbed to 51.9 in January, its highest level since January 2011, and up from last month's 51.5. A reading above 50 indicates expansion in the key sector, while one below signals contraction. Qu Hongbin, a Hong Kong-based economist with HSBC, said: "Thanks to the continuous gains in new business, manufacturers accelerated production by additional hiring and more purchases. Despite the still tepid external demand, the domestic-driven re-stocking process is likely to add steam to China's ongoing recovery in the coming months." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | 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. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |