Oil gains after U.S. infrastructure bill passes, Chinese exports rise | Reuters
Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand, while Saudi Arabia's state-owned producer Aramco raised the official selling price for its crude.
Brent crude was up by 91 cents, or 1.1%, at $83.65 a barrel at 1028 GMT, after dropping nearly 2% last week. U.S. oil gained $1.13, or 1.39%, to $82.40, having declined almost 3% through Friday.
U.S. President Joe Biden on Saturday welcomed congressional passage of a long-delayed $1 trillion infrastructure bill, which may boost growth and demand for fuel. read more
China's export growth slowed in October but beat forecasts, buoyed by rising global demand ahead of the winter holiday seasons and improvements in coronavirus-hit supply chains.
No comments:
Post a Comment