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10.11.2014 11:32

Oil: WTI rallies as Chinese crude imports rose significantly

Oil prices rose in today's trading. Brent Crude, after a seven-week price drop, is currently trading +1.62% at USD84.74, WTI Crude +1.34% trading higher at USD79.70 after positive employment data from the U.S. and China's exports exceeding forecasts and crude imports rose significantly. The U.S. and China are the world's two leading oil consuming nations. But oil still is under pressure as global demand remains low and there is no indication OPEC will cut output to support oil prices.

Libya's two biggest oil fields are scheduled resuming output today after they were seized by gunmen last week.

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