Oil Erases Gains Despite Flurry of Bullish News ...Middle East

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Oil Erases Gains Despite Flurry of Bullish News
source : OILPRICE ( Middle East ) () 30
Crude erased gains in the morning of the first trading session of 2024 despite mostly bullish news. China Might Become the Swing Factor for Oil Sentiment  - The Chinese economy has been sending mixed signals to the oil markets as Caixin manufacturing PMI indicated a strong recovery in industrial sentiment with the index rising to 50.8 in December, the strongest since August.- The problem with that is that Beijing’s official data paint the exact opposite, dropping to the weakest level since June at 49.0, suggesting SMEs are feeling better…

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