Oil market gained 1% on hope of revival in China demand
International benchmark for crude oil ended the session on Monday, 6 February 2023 higher as investors turned away from the lingering fear of higher interest rates.
International benchmark for crude oil ended the session on Monday, 6 February 2023 higher as investors turned away from the lingering fear of higher interest rates. The International Energy Agency (IEA) said that China will be accounted for half of the global oil demand this year with jet fuel demand on the rise.
Brent added $1.05 or 1.3% to close at $80.99/barrel.
WTI gained 72 cents or 1% to close at $74.11/barrel.