Its Nuclear Pursuit

(Reuters) - Oil prices fell on Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector and weak U.S. petroleum demand. China's manufacturers had a sluggish start to the year, a survey of purchasing managers showed, weighing on oil and also on copper prices. News that major powers seeking to negotiate an end to Iran's suspected pursuit of nuclear weapons are soon to lay out what Tehran would need to do return to talks added to pressure on oil prices, analysts and broker said. "There are questions about Europe as far as (oil) demand and yesterday's weak U.S. gasoline demand numbers indicate the economy may not be doing as well as thought," said Phil Flynn, analyst at PFGBest Research in Chicago. "Signs of ...

Oil prices fell on Friday and were on pace to post a weekly loss on pressure from a stronger dollar and uncertainty ahead of a possible debt deal in Greece along with concerns about China's contracting manufacturing sector. The dollar index .DXY strengthened as the euro fell from a two-week peak against the greenback as investors locked in profits from this week's rally and remained wary about the outcome of Greek debt negotiations. Slowing Chinese growth added to pressure on oil prices after a survey of purchasing managers showed China's factory activity likely fell for a third consecutive month in January. News that major powers seeking to negotiate an end to Iran's suspected pursuit of nuclear weapons are soon to lay out what Tehran would need to do return to talks added to pressure ...

(Reuters) - Gold rallied more than 1 percent and silver jumped over 2 percent on Tuesday as investors returned in the new year with a renewed appetite for riskier assets such as commodities, although global economic worries still weighed on sentiment. Better-than-expected manufacturing data from China fuelled interest among investors who had moved to the sidelines because of year-end credit tightness. "Everyone is a bit more optimistic at the beginning of the year," said Ong Yi Ling, an analyst at Phillip Futures. But she cautioned that the euphoria may not last long for gold as market sentiment remains fickle due to the shaky global economic outlook. Gold could drop below $1,500 in the first quarter of 2012 and is unlikely to test its record high hit last September until ...