08.03.2016 - Oil hits $40 a barrel amid commodities comeback
The oil price has gone above $40 a barrel for the first time this year as commodities continue to rally. Brent crude, used as an international benchmark, rose more than 5% to trade at $40.83 a barrel. Oil dropped below $28 in January, but has since risen as part of a wider recovery in energy and metal prices. The price of iron also shot up, rising 20% amid greater optimism about Chinese economic growth and demand for the metal in the country's refineries. The price of Brent crude has now gone up more than 40% from the low it reached in January, although it remains 70% below its peak in the summer of 2014...............................................Full Article: Source
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