China Growth Edges Crude to $71

10 December 2009 (Last Updated December 10th, 2009 18:30)

Crude oil prices have risen to near $71 a barrel, following solid industrial growth reported in China and steady economic growth recorded in the US. For January, US crude delivery rose 23¢ to $70.77 a barrel by 0748 GMT, while London Brent crude gained 25¢ to $72.11, according

Crude oil prices have risen to near $71 a barrel, following solid industrial growth reported in China and steady economic growth recorded in the US.

For January, US crude delivery rose 23¢ to $70.77 a barrel by 0748 GMT, while London Brent crude gained 25¢ to $72.11, according to Reuters.

China has experienced its strongest industrial output growth since June 2007, following fiscal and monetary stimulus. The trend is expected to continue over the coming months.