Market Chatter: Oil Rises Near $96 After Global Economic Data
"Crude oil futures rose Thursday, as improved economic data from the U.S., China and the euro zone buoyed the outlook for oil demand and offset bearish crude-supply data," MarketWatch reported.
It said: "Crude oil for March delivery rose 72 cents, or 0.8%, to settle at $95.95 a barrel on the New York Mercantile Exchange. The U.S. Energy Information Administration reported an unexpected weekly decline in gasoline stocks and a smaller-than-anticipated rise in distillate stocks, but oil inventories rose by a larger-than-expected 2.8 million barrels. The rise in oil futures on Thursday cut into Wednesday's slump of 1.5%."