Crude Oil Retreats as Chinese PMI Disappoints

Crude oil was firm in Europe despite disappointing sentiment data in the Eurozone, Chinese Premier Wen Jiabao's double dip warning as well as French Budget Minister's comment on the country's AAA credit rating. Brent crude edged higher and settled at 74.65, up +0.85%. WTI crude rose to as high as 75.17 in US electronic trade which will be booked to today in settlement. Today in Asia, crude oil prices retreat as China's PMI disappoints.

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Crude Oil Retreats as Chinese PMI Disappoints