Crude oil prices have once again moved up from 59 dollars level last week to around 64 dollars today, due to short covering by the speculators. Also there were some positive reports from US in terms of increase in crude oil inventory and also month-on-month increase in new housing starts in US.
There were also reports of a positive GDP growth in the previous month by Singapore economy. In line with the crude oil price increase, most of the global stock markets have also smartly recovered in the last one week.
Crude oil again hits 64 dollars