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Oil prices rise after Chinese export report

Oil prices rise after Chinese export report

Oil prices rose Monday as China said exports in January surged, a sign that the global economy was gaining steam.
Benchmark West Texas Intermediate crude for March delivery on Monday added 16 cents at $85.74 a barrel in morning trading on the New York Mercantile Exchange. In London, Brent crude added $1.89 at $102.83 per barrel on the ICE Futures Exchange.
China said that exports jumped 37.7 percent _ more than double the rate in December _ to $150.7 billion. A rise in Chinese exports suggests consumer demand is rising as well, and that could expand consumption of gasoline, diesel and other fuels.


Updated : 2021-10-26 07:09 GMT+08:00