Crude Stays Resilient as Growth Outlook Remains Intact
BonTradeFinancial markets remain strong in European session as driven by optimistic growth forecasts. WTI crude oil moves with a firm tone around 75, the highest level in a week, while gold hovers around 1200. The US Energy Department revised up its forecasts on global oil demand. Driven by growth from non-OECD countries, oil demand is expected to increase +1.85% y/y to 85.82M bpd in 2010, followed by a +1.72% increase to 87.29M bpd in 2011. The forecasts were upgraded from June's projections.
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Crude Stays Resilient as Growth Outlook Remains Intact
