Economics
Oil Falls to Three-Month Low as Earnings Bolster Concern
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Brent crude rose on evidence of a stronger economy in China, the world’s second-largest oil consumer, and signs that previous price declines were overdone.
Oil in London gained as much as 1 percent today after China’s preliminary manufacturing index, released by HSBC Holdings Plc and Markit Economics, registered 49.1 in October compared with 47.9 for September. A reading above 50 indicates expansion. Futures were little changed in New York.