International oil prices Thursday (June 10) morning in Europe rose to 74 dollars above the city, due to strong Chinese export data, and the IEA forecast global oil demand this year up.
Customs statistics show that in May China's import and export value of 243.99 billion U.S. dollars, up 48.4% annual rate, a trade surplus of 19.5 billion U.S. dollars, higher than the expected 8.8 billion. Exports 131.76 billion U.S. dollars, up 48.5% annualized monthly rate of increase of 9.9%; imports 112.23 billion U.S. dollars, up 48.3% annualized monthly rate of decline of 5.1%. Compared with May 2008, import and export increase of 10.2%; exports increased 9.2%, imports increased 11.4%.
China lifted by strong data, the Asia-Pacific stock markets extended gains today. European stock markets also strengthened today.
International Energy Agency (IEA) Thursday (June 10) in the monthly oil market report, raised its global oil demand growth is expected, as rising U.S. fuel use.
IEA global oil demand growth is expected to rise by an annual rate of 7 million barrels to 168 million barrels a day increase. IEA said global oil demand this year will be 8644 million barrels in 2009 to 8,476 million barrels.
IEA's Oil Industry and Markets, said the Secretary-General DavidFyfe, data correction was mainly due to U.S. energy demand stronger than expected, it also shows a further recovery in U.S. economic activity.
EIA data released yesterday showed U.S. crude oil inventories fell more than expected last week, while gasoline supplies little change.
Beijing time 19:34, NYMEX7 report dated crude oil 74.99 U.S. dollars / barrel. (Bi fan)