MTECHTIPS:-NYMEX crude gains in Asia with Caixin PMI survey awaited,

MTECHTIPS:-NYMEX crude gains in Asia with Caixin PMI survey awaited, Korea noted

MTECHTIPS- Crude oil prices gained in Asia on Tuesday with a private survey on China manufacturing awaited for demand cues and political tension over a tweet by President-elect Donald Trump warning North Korea on testing an intercontinental ballistic missile catching attention. On the New York Mercantile Exchange, crude oil for delivery in February rose 0.67% to $54.08 a barrel. Ahead, the Caixin manufacturing PMI for December is expected to show a drop to 50.7 from 50.9 in November. At the weekend, data showed the official China PMI from the China Federation of Logistics and Purchasing and the National Bureau of Statistics fell to 51.4 in December, slightly weaker than expectations. In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Wednesday and Thursday to gauge the strength of demand in the world’s largest oil consumer. This week’s reports come out one day later than usual. Oil traders will also continue to pay close attention to comments from global oil producers for further evidence that producers will stick to their agreement to cut production next year. Last year, oil futures finished with modest losses in the final trading session of 2016 on Friday, but scored the biggest annual gain since 2009 in wake of the landmark deal reached by the Organization of the Petroleum Exporting Countries and several non-OPEC members to reduce their output

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