Crude Oil recovering
Feb 03 2015
Oil prices have continued its rally on Tuesday recording around 3 percent of gains. In fact, U.S. crude climbed more than $1.50 a barrel on and was trading above $51, while Brent crude opened at $55 a barrel and had risen to $56.68 a barrel by the same time. And erasing its losses which has recorded at the beginning of the 2015.
The recover of the oil prices came amid the release of disappointing data from both US and China which provoked fears of cutting supply. The Oil declined at the beginning of this week due U.S oil refineries workers strike. Then today the investors are waiting for the crude oil inventories report from the largest oil consumer in the world.