Showing posts from February 5, 2023

A boost for oil prices! China's Manufacturing PMI Index is up after 4 months

  In the ascending order of the ladder of relevance, there seems to be some good news as far as the stability of the crude oil markets are concerned; China has reported that a key index that reflects its manufacturing activity did cross the threshold in January, defying the gloom and doom that used to do rounds in the past few weeks. China's Manufacturing PMI index had been falling since September, clearly indicating shrinking activities, up until the trend reversed in January. It has crossed the psychologically-sensitive threshold of 50 and as of January in 2023, it stood at 50.1. Crude oil markets will really welcome the news: China is the world's largest importer of crude oil after all and of course, the second largest economy in the world.  Understandably, when China sneezes, the rest of the world catches a cold - and it is inevitable. Analysts have been connecting the uncertainty in the energy markets, in part,  to the slowing economic growth of China due to a myriad of fa

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