TELETRADER News
3/15, 7:41 AM
(Source: TeleTrader)
Brent Crude (...+2.80%
F WBS+2.57%
Oil prices climb over 1% on China demand hopes
Crude prices for future contracts went up over 1% on Wednesday seemingly driven by prospects of higher demand in one of the world's biggest oil importers.
Data revealed that industrial production in China registered two-month growth of 4.9%, seemingly supporting OPEC's projections for increased crude consumption in the country this year.
West Texas Intermediate (WTI) for April contracts rose 1.25% to $72.22 per barrel at 2:29 am ET. Brent for May deliveries gained 1.14% to sell at $78.32 per barrel.