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Oil prices mixed in Asian trade

Feb 18 2013 07:48

Singapore - 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% in January, with manufacturing output falling 0.4%.

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

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commodities  |  markets  |  oil


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