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Market Chatter: Oil Rises Near $96 After Global Economic Data

By: MT Newswires
Posted: 1/24/2013 3:04:00 PM
Referenced Stocks:

"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%."