Oil Prices Rise on China Stimulus and Falling U.S. Inventories

Oil prices are on track to post a weekly gain on the back of China's economic stimulus and forecasts of lower U.S. crude inventories.Oil prices were rising toward the end of the week, with WTI breaking back above $70 and Brent trading at $73.72. Optimism surrounding China's economic growth after Beijing agreed to issue special treasury bonds worth roughly $411 billion helped to spark bullish sentiment in markets this week. Prices then rose even further on expectations of a crude draw in the U.S., with the EIA set to report at 13:00 EST…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com