OIL FUTURES: Crude pushes higher as supply tightness offsets China demand concerns

摘要

Crude prices rose midday, shaking off early-session selling pressure as the market weighed tighter global supply outlooks against uncertain Chinese demand. NYMEX June WTI settled ff3.71 higher at ff114.20/b and ICE July Brent climbed ff2.69 to ff114.24/b. “Weaker economic data from China and the US weighed on oil prices but a tightening market, especially in products paved the way for crude prices to pop higher," OANDA senior market analyst Ed Moya said in a note.