Crude Looks for Direction, Closes Higher On Economic News

摘要

July Nymex futures moved 34￠ higher to finish at $71.37 per barrel Thursday after bullish economic data helped root out some early indecision within crude markets. August Brent on ICE Futures closed up 21￠ to $71.06/bbl. Bullish reports on business activity from the Philadelphia Fed and the US economy from the Conference Board pushed equities and crude higher. But reactions were muted amid quiet trading. "It's a little telling we didn't get much of a lift from the positive LEI [leading economic indicator] number," said John Kildoff at MF Global of the Conference Board's report"These were better than expected."