Market Commentary and Intraday News

Oil prices slip on mixed economic data

216 days ago

(AP:NEW YORK) Oil prices are slightly lower at midday Tuesday, as traders mull mixed data about the nation's slowly recovering economy.

Benchmark U.S. crude fell 13 cents to $91.72 in New York. Brent crude, used to price many foreign varieties of oil, was down 68 cents at $113.72 in London.

The Labor Department said the consumer price index rose 0.6 percent last month, the same as in August, with inflation still in check.

Meanwhile the Federal Reserve said industrial production was barely higher last month, and factory output showed a decline in the July-September quarter. Weak activity in the nation's manufacturing sector generally means less demand for oil.

At the pump, the national average for a gallon of gas fell a little more than a cent from Monday, to $3.77.

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