Monday, December 9, 2013

China to the top and WTI gains …

As the last month data regarding crude oil imports, China on the top as  the biggest crude oil consumer in the world, 27% and 25% crude oil imports rose in china for September and October reaching 6.45 Million barrels per day, 7.8% the GDP increasing rate during the last three months , which help to increase the consumption during that period.

China reported 6.53 Million barrels exceeding U.S. with 6.23 daily imports of crude oil, to be in total during November 9.61 Million barrels as daily consumption.
Today WTI reached the level of $97.97 per barrel, after the Chinese data in addition of unemployment data drop in U.S., to show the recovery signals and growth data, WTI traded on average price at $97.65 per barrel during Monday combined with investors’ optimism to gain more during this week.

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