Oil News

Crude Oil up at $61 a barrel as investors eye a recovery in demand

Crude Oil up at $61 a barrel as investors eye a recovery in demand

China’s growth rate shot up in the second quarter on the back of a surge in state spending and bank lending

Oil was little changed at above $61 on Thursday, after gaining 3.4 percent in the previous session, as investors remained cautious about the pace of global economic recovery despite positive growth numbers from China. China’s growth rate shot up in the second quarter on the back of a surge in state spending and bank lending, boosting hopes the biggest emerging economy will lead the way out of the worst global downturn since the 1930s. Crude Oil is trading at $61.15 as of 9:29am, London Time. Crude