Crude Oil Advances to a Two-Week High on Chinese Expansion

Bloomberg reports that crude oil increased to a two-week high after Chinese manufacturing expanded at the quickest pace in six months.

The market news is quoted as saying:

Oil rose 1.9 percent as China’s Federation of Logistics and Purchasing said the country’s purchasing managers’ index climbed to 54.7 in October from 53.8. The Fed may make more asset purchases, known as quantitative easing, after its meeting tomorrow and Nov. 3. An industry report showed that U.S. factory output expanded more than forecast last month.

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