3/15, 7:41 AM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / AB