PMI Data Shows Slowdown in Manufacturing Activities

Oil prices moved steadily in European session after a sharp rally yesterday. Investors shrugged off weak US data, focusing instead on optimism over Greece bailout extensions and closure of the Trans Canada pipeline. The front-month contract for WTI crude oil rose to 103.39, the highest level since May 11, before settling at 102.7, up +2.10%. The equivalent Brent crude contract also climbed +1.79% to close at 116.73.

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PMI Data Shows Slowdown in Manufacturing Activities