The Institute for Supply Management's manufacturing index fell to 59.7% in May from 60.4% in April, while the consensus forecast called for a decrease to 59%. This stronger than anticipated growth in key economic indicator has propped up oil prices.
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Thursday, June 03, 2010
Crude oil rises on news of stronger than anticipated U.S. manufacturing
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Crude oil rose and was poised for a second weekly increase on signs of a recovery in demand in the U.S, biggest energy consumer.
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