Oil rises on expanding Chinese factory activity, but set to end year lower

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The story "Oil rises on expanding Chinese factory activity, but set to end year lower" was covered 1 weeks ago by The Star, a news publisher based in Malaysia.

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The Star 1w ago

Oil rises on expanding Chinese factory activity, but set to end year lower - The Star

Quick Summary:

SINGAPORE: Oil prices rose on Tuesday after data showed China's manufacturing activity expanded in December, but they are on track to end lower for a second consecutive year due to demand concerns in top consuming countries.

Markets are also gearing up for President-elect Donald Trump's policies around looser regulation, tax cuts, tariff hikes and tighter immigration that are expected to be both pro-growth and inflationary.

A stronger dollar makes purchases of oil more expensive for consumers outside the United States, weighing on demand.