Oil prices open the week up 0.85%

Ankara

Oil prices rose on Monday after the release of upbeat data on job creation in the United States and increased exports from China.

International benchmark Brent crude was trading at $95.73 a barrel at 9:48 am (06:48 GMT), up 0.85% from the previous session’s close at $94.92 a barrel, while the US benchmark West Texas Intermediate (WTI) was trading at $95.73 a barrel. ) at $89.77 per barrel at the same time, also 0.85% above the previous session’s close at $89.01 per barrel.

On Friday, official data showed that oil prices rebounded from last week’s lows on the back of US job gains, which beat expectations and unexpectedly accelerated in July.

Moreover, a drop in the unemployment rate to 3.5% indicates positivity in the US economy, which is threatened by a recession.

For its part, China’s exports grew last Sunday at a faster pace than expected, according to official data published last Sunday.

The world’s largest importer of crude imported 8.79 million barrels per day of oil in July, up from a four-year low in June.

* Translated by Daniel Gallego.

Anadolu Agency website contains only part of the news stories presented to subscribers on the AA News Broadcasting System (HAS), and in summary.

See also  World Bank, IMF urge G7 to release surplus COVID-19 vaccines

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published.

Back to top