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Commodities Briefing - Categorized | Oil, Price Watch more

China drives oil price hike

Posted on 03 June 2014

Brent futures rose towards $110 a barrel on Monday as data showing China’s factory activity expanded at its quickest pace in five months in May revived hopes of healthy demand growth from the world’s second-biggest oil consumer.
The strong data reinforces views that China is regaining momentum in the second quarter and adds to a recent string of positive indicators from the US that suggests an improvement in the global economic outlook. The upbeat numbers from the world’s second largest economy also helped push up the broader market, including Asia shares and base metals………………………………………..Full Article: Source


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