Crude oil prices gained today, after China’s impressive export data was released hours ago. China’s exports surged by 3.5% in April from a year earlier. The figures from the largest buyer of crude is further indication that the oil market is on a rebound, though slowly.
Brent crude gained over 5% at $31.43 a barrel as at 2.42 pm local time, after losing about 4% yesterday.
Crude oil prices rallied throughout last week, with Brent crude breaking the resistant level of $30 per barrel amid signs that oil demand was improving, after countries across continents eased the lockdowns put in place to curb the Coronavirus pandemic.
Brent crude gained over 5% at $31.43 a barrel as at 2.42 pm local time, after losing about 4% yesterday.
Crude oil prices rallied throughout last week, with Brent crude breaking the resistant level of $30 per barrel amid signs that oil demand was improving, after countries across continents eased the lockdowns put in place to curb the Coronavirus pandemic.