Energy prices traded in the green on Thursday, supported by a growing demand in China and weakening US dollar. Official data on refinery utilization and crude imports indicated demand for the commodity in China increased 4.1% on the year in November to 11.44 million barrels per day, the second-highest registered monthly level.
Meanwhile, the lack of clarity in the US fiscal policy caused the greenback to trade lower. President-elect Donald Trump’s absence of remarks on taxation and public spending also increased worries, sending the dollar to trade in the red.
West Texas Intermediate for settlements next month added 0.54% to trade for $52.52 per barrel at 11:12 am CET. International benchmark Brent for March delivery gained 0.78%, changing hands for $55.57 per barrel at the same time.
Image: EPA / Wu Hong
