Oil prices rise on solid China growth, Middle East tensions

Economy
  • 16-04-2024, 09:22
    • +A -A

    INA-source
    Oil prices rose on Tuesday as the Chinese economy grew faster than expected, while heightened tensions in the Middle East ç
    Brent futures for June delivery rose 48 cents, or 0.5%, to $90.58 a barrel by 0437 GMT. U.S. crude futures for May delivery rose 49 cents, or 0.6%, to $85.90 a barrel.

    The benchmarks rose on the back of solid economic growth in China, the world's biggest oil importer. Official gross domestic product grew 5.3% in the first quarter, year-on-year, government data showed, comfortably beating analysts' expectations.

Related news

High oil prices in world markets

  • Economy
  • 02:32

Oil up 1%, US WTI at 5-month closing high, market seen tight

  • Economy
  • 09:10

Japan's GDP shrank 0.2% in Q1 on inflation, omicron wave

  • Economy
  • 09:51