The price of Texas intermediate oil (WTI) rose 0.6% on Thursday and closed at $78.16 a barrel, driven by news about the economic recovery in China.
At the close of business in New York, a barrel of WTI for April delivery added 47 cents compared to the close of the previous session, reaching its highest price in the last two weeks.
US crude continued its bullish path supported by data released on Wednesday from China, whose productive activity grew notably last month when the covid-19 restrictions were lifted.
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However, the gains were tempered by market expectations that central banks in Europe and the US will act more aggressively in raising interest rates to control inflation.
Investors reacted cautiously to a new weekly build in US commercial crude stockpiles, albeit less than in recent times thanks to a rise in exports.
According to the Information Administration energetic In the US, last week crude oil reserves increased by 1.2 million barrels, up to 480.2 million, above the average for the last five years.
On the other hand, April natural gas futures contracts fell nearly 5 cents to $2.77, and gasoline futures due the same month gained nearly 3 cents to $2.70.
