The prices of crude oil went up to $50 a barrel for the first time in nearly seven months, lifting commodity and energy-related shares in Europe and Asia. However, there is concern about gains being limited by US interest rates and a slowdown in China. This took the levels to more than 80% above January’s 12-year low and has been fuelled partly by a weak dollar. The basic resources and oil and gas sectors are driving the hike in European energy shares. The pan-European FTSEurofirst 300 index rose by 0.2%, pushing a four-week hike. The STOXX 600 basic resources index rose by 2.4%, whereas oil and gas added 0.8%. Oil inventory data has been mixed over the last six months but this depends on how many believe that we are on the edge of an increase in global demand and economic recovery.
Read Full News At: http://www.researz.com/oil-price-lift-50-commodity-stocks-also-lift