Oil drilling rigs
Oil prices rose on Friday, as markets awaited the outcome of ongoing negotiations regarding the conflict in the Middle East, supported by improved prospects for the Chinese economy. 
Brent crude for July delivery rose by 0.64%, or 54 cents, to $84.42 a barrel at 08:22 am KSA Time.
US West Texas Intermediate (WTI) crude for June delivery added 0.76% to $79.86 a barrel, after ending Thursday’s session at the highest level since April 30.
ANZ Research said in a note that “Ongoing signs of strength in demand in China should see commodity market remain well supported,” ANZ Research said in a note.
This comes after official data released yesterday showed that Chinese exports and imports returned to growth in April after a drop in the previous month, pushing the trade surplus of the world’s second-largest economy to $72.35 billion from $58.55 billion during the same period.
Oil drilling rigs
Oil prices rose on Friday, as markets awaited the outcome of ongoing negotiations regarding the conflict in the Middle East, supported by improved prospects for the Chinese economy.
Brent crude for July delivery rose by 0.64%, or 54 cents, to $84.42 a barrel at 08:22 am KSA Time.
US West Texas Intermediate (WTI) crude for June delivery added 0.76% to $79.86 a barrel, after ending Thursday’s session at the highest level since April 30.
ANZ Research said in a note that “Ongoing signs of strength in demand in China should see commodity market remain well supported,” ANZ Research said in a note.
This comes after official data released yesterday showed that Chinese exports and imports returned to growth in April after a drop in the previous month, pushing the trade surplus of the world’s second-largest economy to $72.35 billion from $58.55 billion during the same period.
