Oil prices are bouncing back on Tuesday following Monday's nearly USD 4 slide amid the release of positive Chinese manufacturing data, although a bearish European market is continuing to cap gains.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 104.31/bbl on the Ice platform, up USD 1.05 on Monday's close, while the WTI September contract on Nymex traded USD 0.69 higher at USD 88.83/bbl.
The HSBC Flash China manufacturing purchasing managers index (PMI) rose by 1.3 points to 49.5 in July, its sharpest rise for nine months.
Dienstag, 24.07.2012, 08:14 Uhr
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