Crude oil futures are trading lower in Asia electronic trades today as there is lack of cues in the market.
Most Asian markets rallied Friday, buoyed by signs of an improvement in global manufacturing, with mainland Chinese stocks rebounding from a drop the previous day.
Preliminary readings from HSBC Thursday showed China’s Purchasing Managers’ Index rose to 50.4 in November, signaling the first expansion in more than a year. HSBC data released during the European day also showed that while the region’s factories remained in contraction, business their conditions improved to an eight-month high.
Hong Kong’s Hang Seng Index rose 0.4% after a lower start, China’s Shanghai Composite climbed 0.6% and South Korea’s Kospi added 0.3%, while Singapore’s Straits Times Index inched up 0.1%, staying on course for a five-day winning streak.
Dow Jones Industrial Average futures rose 30 points, or 0.2%, to 12,830 after Thursday’s Thanksgiving holiday.
Crude oil futures for January delivery traded at $87.12 a barrel at down 0.26% on the New York Mercantile Exchange. It earlier traded at a session low $86.71 a barrel.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, fell 0.17% to trade at $80.70.
MCX December crude oil futures may open today’s session near Rs 4830 levels with support near Rs 4800 levels.
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