Reported 3 days ago
Oil prices increased due to expanding manufacturing activity in China for December, yet they are on track to end the year lower for the second consecutive time, driven by persistent demand concerns in major consuming countries. Brent crude rose to $74.46 per barrel, while West Texas Intermediate reached $71.48 per barrel, reflecting a yearly decline of 3.2% and 0.6% respectively. Encouraging signs from China's economic stimulus and a decline in U.S. crude stockpiles may provide temporary support to prices.
Source: YAHOO