CME/Nymex June crude posted a gain of 38￠ to $104.93/bbl, as short covering overcame earlier declines from a debt downgrade for Spain and sluggish US growth

摘要

The Commerce Department said that economic growth missed expectations for the first quarter of 2012. The forecast was calling for a 2.5% increase, but the economy only grew 2.2%. Additionally, worries about oil demand were renewed after Standard & Poor’s lowered Spain's investment-grade rating by two notches, citing an increasing risk from a weakening economy.