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LONDON (Reuters) – Oil prices rose more than 2 percent on Friday, after recovering after two consecutive declines after data showed that rising US retail sales had helped boost retail sales. Reduce the fears of a recession of the world's largest economy.
Brent rose 2% to 59.48 dollars a barrel after falling 2.1% Thursday and 3% yesterday.
US crude also rose 2 percent to $ 55.60 a barrel after dropping 1.4 percent in the previous session and 3.3 percent on Wednesday.
Equity markets also advanced on Friday, as central bank stimulus expectations eclipsed fears of a slowdown in global growth.
But gains are not expected to rise after this week's data, including a surprise drop in China's industrial production growth to its lowest level in 17 years, as well as a drop in exports that plunged German economy in recession in the second quarter.
SOURCE: Reuters
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