Crude Rises on Stock Draw, IMF Forecast of Faster Economic Growth

摘要

Crude futures received a boost from two positive pieces of news on Thursday, one on the macroeconomic front and the other on the fundamental front. The International Monetary Fund (IMF) upped its economic growth forecast for this year, leading traders to believe that oil demand should remain elevated for the rest of 2010. And the Energy Information Administration (EIA) reported a whopping 5 million barrel draw in US crude stocks.