Crude Oil recovered above $61
March 03 2015
The oil recovered against the U.S dollar during the Asian
session hitting $60.88 per barrel.
The oil prices recovery was driven by different factors
including the recover of the global stock markets during the previous sessions.
Then the oil market was supported by the release of positive
data from Chinese economy which showed the increase of China crude oil
imports by 0.6 % to reach 39.35 million tons, or 9.27 million barrels during
the month of January.
Analysts have also claimed that the decline in the number of US
rigs on the last week has contributed to
the recover of oil prices.
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