Oil Rises on Higher Demand

Brent crude advanced after a three-day decline on signs that demand is strengthening as the economic recovery takes root in developed nations.

Futures gained as much as 1.5 percent in London. Global oil consumption will increase more this year than previously forecast as growth gathers momentum, the International Energy Agency said today in its monthly market report. Demand in developed countries expanded last year for the first time since 2010, the Paris-based IEA said. The People’s Bank of China yesterday added funds and expanded access to a lending facility as money-market rates surged.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza