Crude oil traded near a seven-week high as signs the international economy is recovering from recession bolstered optimism that fuel consumption will rebound. For full story, click here
The Industrial Production Index for April 2009 shrank 11.4 percent compared to the same month of last year, following a 12.7 percent year-on-year dip in March 2009. For full story, click here
Oil rebounded from yesterday’s losses as gains in equity markets signaled that industrial output around the world may be restoring, drawing investors back to commodities such as crude. Robin Bieber, director of PVM Oil Associates Ltd., stated: At the moment oil is closely linked to activity in the stock market. For full story, click here
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