Bloomberg reported that oil has reached its highest in three months, with prices rising 0.8% as China’s exports accelerated.
As quoted in the market news:
We are breaking out on the back of the incredibly strong export data from China that clearly argue for an enhanced demand picture for 2013,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “The comments by Draghi about the economy are positive. The euro is mostly definitely helping oil.