CRUDE OIL (WTI) ; brief

crudeoiltoday

 

Current price – 31.19 (+2.06)

 

Stock markets in Europe and Asia rose and oil prices jumped on Wednesday after Chinese trade data cooled concerns over the world’s second biggest economy, steadying money and currency markets in Shanghai and Hong Kong.Traders said the mood on many markets was still shaky after an extremely volatile start to 2016, driven by worries over conflict in the Middle East, China’s finances and the fallout from extremely low oil prices.More stability in China would also leave the way clearer for the U.S. Federal Reserve to raise interest rates this year and the brighter tone drove the dollar around half a percent higher against the euro and yen.

U.S. crude jumped almost a dollar to $31.25 a barrel, a day after breaching the $30 barrier for the first time in 12 years.

Benchmark Brent was similarly higher at $31.69 a barrel. U.S. crude had fallen 17 percent in just seven sessions, a gift to consumers across the globe but also a strong force for disinflation.

 

M.Magnolia.

 

 

 

 

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