Oil News

Crude Oil hovers around $80 per barrel as China continues growth

Crude Oil hovers around $80 per barrel as China continues growth

Crude’s Pool-Position is 84% Long, meaning that most Finotec clients are buying the commodity.

China’s crude imports and refinery throughput came in just below historical peaks in October, showing that oil demand continues a gradual revival from a sharp slowdown in late 2008 and early this year. With the world’s third-largest economy showing more signs of a solid recovery, commentators are expecting strong oil demand growth to continue. Refinery crude throughput rose 10.4 percent from a year earlier to 33.29 million tons (7.84 million bpd), data from the National Statistics Bureau showed on Wednesday. Crude Oil is trading at $79.17 as of 21:30pm, GMT with a bullish trend. Crude’s Pool-Position is 84% Long, meaning that most Finotec clients are buying the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More