US Crude Oil Holds Strong Above $80 Despite Mixed Data

24.06.18 News

U.S. crude oil prices remained above $80 per barrel on Tuesday, continuing strong gains from Monday despite mixed economic data from China. West Texas Intermediate futures rose over 2% on Monday, driven by higher-than-expected retail sales in China, though industrial output and investment fell short. Analysts attribute the recent rally to speculators covering short positions and expect market tightening in the third quarter due to summer fuel demand.

Share This Article

Choose Your Platform: Facebook Twitter Linkedin

Add a Comment

Your email address will not be published. Required fields are marked *