Crude oil prices ticked higher today as traders turned optimistic following the latest news about Chinese government stimulus for consumer spending. Brent crude was trading at $73.80 per barrel at the time of writing, and West Texas Intermediate was changing hands for $70.32 per barrel, both up from opening in Asia, after the Chinese finance ministry announced a new package of funds to go into higher pensions, medical insurance, and consumer goods trade-ins. The stimulus move is the latest in a series aimed at supercharging the Chinese economy…
