1/20, 6:35 PM (Source: TeleTrader)
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Crude prices climb 1% on hopes of higher demand

Crude oil prices rose over 1% on Friday following the better-than-expected data on China's industrial production and gross domestic product this week, which added to the prospects of higher demand in one of the world's biggest oil importers.

Saudi Aramco CEO Amin Nasser earlier warned that the anticipated increase in oil consumption in China could result in supply disruptions on the world's crude markets.

West Texas Intermediate (WTI) for deliveries in March edged up by 1.31% to sell at $81.67 per barrel at 12:23 pm ET. At the same time, Brent for settlements in March gained 1.32% to go to $87.30 per barrel.

Baha Breaking News (BBN) / AB