Oil prices were stronger today, gaining about 3% on positive economic data. The number of Americans filing for unemployment benefits fell last week and prior periods data was revised sharply lower. “Oil prices rallied after another round of impressive U.S. economic data boosted optimism for an improving crude demand outlook,” said Edward Moya, senior market analyst at data and analytics firm OANDA. Moya also noted that OPEC will not allow the recent pullback in oil prices to continue much further. Russia is forecasting rising output and exports saying revenue from energy exports are expected to rise 38% year, mostly due to higher exports. WTI traded up $2.39 or 2.7% to close at $90.50. Brent traded up $2.94 or 3.1% to close at $96.59.<\/p>\n\n\n\n
Oil prices were stronger today, gaining about 3% on positive economic data. WTI traded up $2.39 or 2.7% to close at $90.50.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-7157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n