Oil prices rose today, boosted by signs of a stronger economic rebound in China and easing worries of aggressive US rate hikes. Manufacturing activity in China grew last month at the fastest pace in more than a decade. Meanwhile, imports of Russian seaborne crude to mainland china are set to hit record highs this month. Also helping prices were comments by Atlanta Federal Reserve President Raphael Bostic, who said the Fed should stick with “steady” quarter-point rate increases for now in an effort to avoid an economic downturn. “We’re getting battered about by the Fed speak, but the Bostic comments seemed to help oil,” said John Kilduff, partner at Again Capital LLC in New York. WTI traded up $.47 or .6% to close at $78.16. Brent traded up $.44 or .5% to close at $84.75.<\/p>\n\n\n\n
Manufacturing activity in China grew last month at the fastest pace in more than a decade. Meanwhile, imports of Russian seaborne crude…<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n