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Oil Surges Most in Six Years on Faster U.S. Economic Growth Posted 28 August 2015 by Admin. Blog, Industry News

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.

West Texas Intermediate futures rose 10 percent, the biggest
gain since March 2009. U.S. gross domestic product grew at a
3.7 percent annualized rate in the second quarter, exceeding all
estimates of economists surveyed by Bloomberg. The Standard
& Poor’s 500 Index headed for its biggest two-day gain since
2009 as Chinese shares snapped a five-day losing streak. read more

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