Oil prices rise on upbeat data
Xinhua,January 05, 2018 Adjust font size:
NEW YORK, Jan. 3 (Xinhua) -- Oil prices rose on Wednesday as overall positive economic data from Europe and the United States boosted the market.
Data showed that U.S. economic activity in the manufacturing sector expanded more than expected in December and employment rate in Germany registered a record low.
Analysts said the upbeat data indicated a potential rising demand for oil in the world economy, which supported the oil prices on Wednesday.
The West Texas Intermediate for February Delivery added 1.26 dollar to settle at 61.63 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery gained 1.27 dollar to close at 67.84 dollars a barrel on the London ICE Futures Exchange. Enditem