High oil prices thanks to Chinese data

Economy/International

13-04-2021, 16:52

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Follow-up - INA

oil prices rose today, Tuesday, in light of Chinese data.
Brent crude futures rose 0.5 percent, to $ 63.59 a barrel, while US crude futures rose 0.5 percent, too, to $ 59.98 a barrel.
China's exports increased at the fastest rate last March, with the growing global demand in light of the progress in vaccination of Covid-19 vaccines around the world, while the growth of imports jumped to a four-year high.
China's imports of crude oil jumped 21 percent last March from a low comparison basis for the same period a year ago, as refiners intensified activity amidst strong demand for fuel with a decline in the Covid-19 pandemic.
Said Stephen Ins, senior global market analyst at AxI.

Source: Reuters