The Traderszone Network

Published in TZ Latest News 8 February, 2015 by The TZ Newswire Staff

Oil steadies after weak Chinese trade data

Oil prices steadied on Monday as falling U.S. oil rig counts and signs of strong U.S. economic growth were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer. Global benchmark Brent crude oil for March was up 30 cents at $58.10 a barrel by 0420 GMT (11.20 p.m. EST Sunday) after rising as high as $59.06 earlier in the session. The move ended a six-month slide that saw oil prices lose more than half their value.

read more