Oil flat despite US, China factory strength
The price of oil held steady Tuesday despite signs that manufacturing activity grew in the U.S. and China, the world’s two biggest oil consumers.
Benchmark U.S. crude for August delivery fell 3 cents to close at $105.34 a barrel in New York. It is the fourth day in a row of declines and the sixth decline in the last seven trading days. The contract closed at a 10-month high of $107.26 on June 20.