Oil Erases Gains Despite Flurry of Bullish News

Crude erased gains in the morning of the first trading session of 2024 despite mostly bullish news. China Might Become the Swing Factor for Oil Sentiment  - The Chinese economy has been sending mixed signals to the oil markets as Caixin manufacturing PMI indicated a strong recovery in industrial sentiment with the index rising to 50.8 in December, the strongest since August.- The problem with that is that Beijing’s official data paint the exact opposite, dropping to the weakest level since June at 49.0, suggesting SMEs are feeling better…