Brent Rises on Chinese Data, But Gains Are Limited By Pipeline Restart
Brent crude oil traded at $111.11 on Friday morning at 9:27 GMT after better than expected Chinese data; but an increase in North Sea supply capped gains.
According to CNBC , although Chinese oil imports fell last month, data showed that the oil consuming giant's exports increased by 20 percent in February, beating expectations and fueling speculation that the nation will keep oil demand high in 2013. The decrease in oil imports was attributed to lower demand during the Lunar New Year break.
Read More on International Business Times
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
