Oil prices mixed in Asian trade

Oil prices mixed in Asian trade
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Summary United States is the world's largest economy and oil consumer.


SINGAPORE (AFP) - Oil prices were mixed in Asia on Monday with downward pressure coming from a slip in US industrial output, analysts said.

 

New York s main contract, light sweet crude for delivery in March, eased 25 cents to $95.61 a barrel in the afternoon while Brent North Sea crude for delivery in April added 15 cents to $117.81.

 

Trading was restrained "after an unexpected dip in US industrial production spurred concerns about lagging economic activity", Phillip Futures said in a report.

 

Official data Friday showed industrial production in the United States -- the world s largest economy and oil consumer -- contracting 0.1 percent in January, with manufacturing output falling 0.4 percent.

 

"Economists had been expecting a modest increase in industrial output in January," Phillip Futures said.
 

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