Oil prices edge higher on hopes for more China stimulus [Yahoo! Finance]
RAKUTEN GROUP INC S/ADR (RKUNY)
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Source: Yahoo! Finance
in China, the world's biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support. Brent crude futures rose 11 cents, or 0.2%, to $73.69 a barrel by 0148 GMT. U.S. West Texas Intermediate crude was at $70.25 a barrel, up 15 cents, or 0.2%, from Tuesday's pre-Christmas settlement. China plans to boost fiscal support for consumption next year by increasing pensions and medical insurance subsidies for residents and expanding trade-ins for consumer goods, according to a finance ministry announcement on Tuesday. Meanwhile, Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, Reuters reported on Tuesday, citing two sources, as Beijing ramps up fiscal stimulus to revive a faltering economy. "Hopes for China's stimulus measures are supporting the market," said Satoru Yoshida, a commodity analyst at Rakuten Securities. "Expectations that fossil fuel production and demand will expand a
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News
- Oil prices edge higher on hopes for more China stimulus [CNBC]CNBC
- Oil prices edge higher on hopes for more China stimulus [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Oil prices edge higher on hopes for more China stimulus [Yahoo! Finance Canada]Yahoo! Finance Canada
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