Oil prices are edging higher on Wednesday as growth in Chinese demand boosted buying interest, offsetting the bearish impact of an increase in US crude stocks, players said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 95.75/bbl, USD 0.50 higher day on day.
The equivalent WTI contract, meanwhile, went through last USD 0.30 higher at USD 86.50/bbl.
Chinese demand growth was expected to continue this year, participants said, referring to a report from the China Petroleum and Chemical Industry Assoc
Mittwoch, 26.01.2011, 08:59 Uhr
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