USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Industries

Oil prices climb on stronger demand

Xinhua | Updated: 2017-07-14 09:27

NEW YORK — Oil prices ended higher on Thursday on rising global oil demand.

The International Energy Agency issued a stronger outlook for global oil demand on Thursday, saying that consumption in China, Germany and the United States are increasing in recent months.

Moreover, the US Energy Information Administration (EIA) said in its weekly report on Wednesday that the country's crude inventories fell by 7.6 million barrels during last week, compared with market expectations for a decrease of 2.9 million barrels.

Analysts said the latest reports helped to ease market concerns for global oversupply.

The West Texas Intermediate for August Delivery added 59 cents to settle at $46.08 a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 68 cents to close at $48.42 a barrel on the London ICE Futures Exchange.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US