Oil Rises On U.S. Shut-Ins, Impressive Chinese Data

Despite lingering concerns over a global oil oversupply and weak Chinese economic growth, oil prices reversed losses to edge up early on Monday morning as 73 percent of U.S. Gulf of Mexico oil production was shut-in on Sunday due to tropical storm Barry and Chinese data on Monday pointed to better than forecast industrial figures.

Leave a Reply

Your email address will not be published. Required fields are marked *