Oil Climbs to Three-Month High As China Exports Increase

Bloomberg reported that oil has reached its highest in three months, with prices rising 0.8% as China’s exports accelerated.

As quoted in the market news:

We are breaking out on the back of the incredibly strong export data from China that clearly argue for an enhanced demand picture for 2013,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “The comments by Draghi about the economy are positive. The euro is mostly definitely helping oil.

Click here to read the full Bloomberg report.