Oil prices rise amid optimism over U.S., China dataDecember 10, 2013 - 14:34 AMT PanARMENIAN.Net - The price of oil rose Tuesday, Dec 10, amid optimism over an improving U.S. economy and encouraging data from China, the Associated Press reports. Benchmark U.S. crude for January delivery was up 38 cents at $97.72 a barrel at midafternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 31 cents to $97.34 on Monday. China's industrial output rose 10 percent from a year earlier in November, slightly lower than October's increase, while retail sales grew a higher-than-expected 13.7 percent. The China data, coupled with stronger U.S. hiring, added to expectations of rising energy demand from the world's top two economies. The U.S. government said Friday that unemployment fell to a five-year low in November while employers added a greater-than-expected 203,000 jobs last month. Earlier data showed the U.S. economy grew at a 3.6 percent annualized rate in July through September, the fastest since early 2012. Brent crude, a benchmark for international oils, was up 24 cents at $109.63 a barrel on the ICE exchange in London. Related links: 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |