Articles
-
Oil advances as China`s data beat estimates but the rise in US stockpiles limit gains
After the world`s second largest energy consumer posted better than expected trade numbers, the outlook for demand on oil improved, pushing crude prices higher for the first time in three days around the $93.50 level.
China`s exports grew more than three times the forecast rate by 14.1% while imports advanced more than twice the expected rate, pushing the country`s trade surplus to $31.6 billion in December from $19.6 billion in November.
China`s General Administration of Customs showed on Thursday that the nation`s crude oil imports rose 6.8% in 2012 from the previous year, confirming the growth in oil demand from the world`s second largest economy.
“This is positive for commodities including oil demand. We continue to see outperformance for China through the first quarter as this cyclical recovery continues, but improved external demand would add to this bullishness”, said Jeremy Friesen from Societe Generale Hong Kong.
Read full article
-
Authorized Person for MEX NEPAL
Mob: +977 9856030634 -
Biratnagar Branch Manager
Mob: +977 9852033934 -
Our Clearing Member
-
Our Banking Partners
-
-
-
