Oil prices surge: World oil prices rose on Wednesday after Saudi Arabia's oil minister, Ali al-Naimi, expressed a view that markets were now calm with demand...
Oil prices surge: World oil prices rose on Wednesday after Saudi Arabia's oil minister, Ali al-Naimi, expressed a view that markets were now calm with demand growing. A stronger flash purchasing managers index in China also boosted sentiment in oil markets. Brent crude rose by US$2.97 or 5.1% to US$61.63 a barrel while US Nymex crude rose by US$1.71 or 3.5% to US$50.99 a barrel.
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