Monexnews-at the beginning of trade in Asian markets, the price of oil is moving up. Optimism rising demand for oil from China to give a share of the return price. Brent oil climbed above $ 120/barrel to the highest level since May. Data showed that China's oil imports in January rose 7.4% per tahund's 6.3% per month.
"Despite the impressive gains, rising oil imports import value corresponds to the capacity of a new oil refinery in China with about 540,000 barrels/day transacted via online in the last quarter of 2012," explained the ANZ. Oil WTI-Brent spreads widen to $ 1.70/barrel on Friday (08/02) and today is in the range of $ 23. Nymex oil shipments in March rose 5 cents to $ 95.77/barrel. Brent March contract rose oil 7 cents to $ 118.97.
(din)
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