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Oil Climbs to Three-Month High As China Exports Increase
Jan. 10, 2013 04:19PM PST
Resource InvestingBloomberg reported that oil has reached its highest in three months, with prices rising 0.8% as China’s exports accelerated.
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.