Oil futures marked a high of 94.36 and a low of 93.64 yesterday as - TopicsExpress

Oil futures marked a high of 94.36 and a low of 93.64 yesterday as investors digested a mixed batch of Chinese economic data. A slowdown in Chinas growth has raised fears of a hard landing for the economy. China has been the main driver for global oil demand in the past decade, and the country last year overtook the United States as the worlds biggest oil importer. While chances of a potential conflict diminished after Iran halted its most sensitive nuclear operations under a preliminary deal, prospects of the OPEC member pumping more supplies still remain far away. That kept investors focused on immediate supply worries stemming from unrest in Iraq and Africa. Time of Writing : 1245 HRS - PST (Tuesday, January 21, 2013) DAILY TECHNICAL RESISTANCES AND SUPPORTS CURRENT PRICE: 94.30 RESISTANCES: 94.80 95.18 95.35 SUPPORTS: 93.80 93.49 93.00

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