Oil Extends Gains in Asian Trade

SINGAPORE : Oil Extends Gains in Asian Trade , Oil rose further in Asian trade on Tuesday, underpinned by a better-than-expected expansion in the US manufacturing sector. A weak greenback, which makes dollar-priced crude cheaper for holders of stronger currencies, was also an extra factor behind the higher futures, they added. New York’s main contract, light sweet crude for December delivery, advanced 26 cents to 78.39 dollars a barrel

SINGAPORE : Oil Extends Gains in Asian Trade, Oil rose further in Asian trade on Tuesday, underpinned by a better-than-expected expansion in the US manufacturing sector.

A weak greenback, which makes dollar-priced crude cheaper for holders of stronger currencies, was also an extra factor behind the higher futures, they added.

New York’s main contract, light sweet crude for December delivery, advanced 26 cents to 78.39 dollars a barrel.

Brent North Sea crude for December delivery gained 19 cents to 76.74 dollars.

The two contracts closed firmer Monday, buoyed in part by the US manufacturing expansion.

The Institute of Supply Management said Monday its factory index, also known as the purchasing managers index, grew for a third consecutive month in October with a reading of 55.7 percent.

It was stronger than market expectations for a reading of 53 percent and the highest rate of growth since April 2006. Any number above 50 indicates growth.

“The reading marks the highest point in three and a half years,” said Dariusz Kowalczyk, chief investment strategist with SJS Markets securities firm.

Among the sub-indexes in the survey, the employment index was 53.1 percent, marking a sharp turnaround from last month’s 46.2 percent and suggesting that factories are starting to add jobs.

“This is the first time in a year and a half that US manufacturers increased employment, a factor that bodes well for Friday’s payrolls report,” said Kowalczyk.

The US is the world’s biggest energy user and a recovery in its economy is seen as key to lifting global oil demand, which has been hit by the global financial crisis.

Official data released last Thursday showed US gross domestic product grew for the first time in a year, at a stronger-than-expected 3.5 percent annual rate in the third quarter, lifting market sentiment.

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Oil Extends Gains in Asian Trade was first posted on November 3, 2009 at 4:45 pm.

World Series Game 5 2009,World Series Game 5

World Series Game 5 2009,World Series Game 5:World Series game 5 2009, phillies Yankees game 5 and most World Series championships . Chase Utley’s vibrant performance gave Phillies an 8-6 victory over Yankees in the Game 5 of the World Series on Monday.

World Series Game 5 2009,World Series Game 5:World Series game 5 2009, phillies Yankees game 5 and most World Series championships. Chase Utley’s vibrant performance gave Phillies an 8-6 victory over Yankees in the Game 5 of the World Series on Monday. Still, the Yankees lead the baseball series by 3-2.Chase Utley drilled three-run home runs, first in the first inning and second in the third inning, and had four RBIs for Phillies. Then came from him in the seventh inning a solo homer.

While Yankees’ pitcher AJ Burnett failed to find his form Alex Rodriguez was the best on their side. Burnett couldn’t go beyond two innings and four batters. His outing, the shortest one since that of Roger Clemens in 2005 was what literally failed Yankees. Rodriguez had his 16th postseason RBI in the game.

Cliff Lee of Phillies hit a two-run double in the eighth inning. But his opponents got as many runs off this left-hander in just four batters as they got in nine innings in Game 1.

Raul Ibanez, hit an RBI single scored a solo home run of his own three batters later.

Phillies still have a long way to walk to the World Series title, as none has won the series by overcoming a 3-1 deficit since 1985.

On Game 6 Wednesday Phillies will face Andy Petitte in New York.

Meanwhile many people are eager to know the list of champions who have won the World Series. To view the full list of World Series Champions, check this wikipedia page: en.wikipedia.org/wiki/List_of_World_Series_champions