ZOID RESEARCH 10-JUNE-2014 : CRUDE OIL

Global oil prices rose on Monday with Brent gaining more than $1 while WTI gaining more than $2 as strong Chinese data and US data pointed towards healthy economic growth indicating high demand from the top two oil consumers.

China's exports beat forecasts in May on firmer global demand, rising 7 percent from a year earlier and quickening from April's increase of 0.9 percent. The strong gains overshadowed an unexpected fall in imports that could signal weaker domestic demand. The positive data boosted an oil market already bolstered by the loss of crude exports from Libya, where violence and civil turmoil have cut oil output by more than 1 million barrels per day (bpd) from pre-unrest levels.

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