Oil Futures Rebound in New York After China’s Inflation Eased
Oil rose as much as 0.3 percent in New York after data showed China’s inflation cooled for a fourth straight month, providing more room to stem a growth slowdown in the world’s second-biggest crude consumer.
Futures for September delivery climbed 18 cents, or 0.2 percent, to $93.53 a barrel in electronic trading on the New York Mercantile Exchange at 10:09 a.m. in Singapore after earlier falling as much as 0.1 percent. Prices dropped yesterday for the first time in four days.
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