ZOID RESEARCH 17-JULY-2014 : CRUDE OIL

WTI crude oil prices rose by more than 1.5 percent on Wednesday after government data showed the country's crude stockpiles fell sharply last week. Oil prices receive some support from strong Chinese economic data earlier in the session. The country's economy expanded at a 7.5 percent annual pace in the second quarter as a result of government stimulus measures, signaling expectations of increasing demand. China's growth figures, however, were offset by news of rising supplies from Libya, where oil production has recovered to nearly 600,000 bpd.

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