OTCPK:MAUXF - Post by User
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SUEMEon Feb 08, 2013 9:49am
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Post# 20957744
Brent - Oil Prices.
Brent - Oil Prices.
Futures rose to more than $118 a barrel for the first time since May 3, boosting the premium to West Texas Intermediate for an eighth day to the most in almost two months. China’s exports climbed 25 percent in January from a year earlier and crude imports increased to the highest level in eight months, customs figures showed. Oil markets will “remain tight” in the first quarter and may push prices above its forecasts, Goldman Sachs Group Inc. said.
“The numbers out of China are good,” said Nic Brown, head of commodity research at Natixis SA in London, who forecasts that Brent will average $107.40 this year. “China appears to be significantly stronger than even we were expecting. This is a clear upside risk for oil prices.”