The global stock markets have started showing some strength in the last few weeks with all the Asian markets rising up by over 8%, except China. Also US markets have risen by over 6% in the last few weeks with Europe also showing over 5% gains.

The commodity markets are showing good strength in spite of doubts over China, due to expected recovery in the US and European markets. The developed markets are showing some signs of recovery in housing and manufacturing sectors, which is kindling hopes of a slow but steady recovery in these markets.

On the back of all the above factors, the crude oil prices jumped by nearly 10% in the last one week and touched 74 dollars a barrel.