Oil prices march upward for 2nd straight day

Benchmark oil for November delivery was up 61 cents to US$92.46 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose US$1.87 to finish at US$91.85 per barrel on the Nymex on Thursday.

Brent crude gained US$1.28 to US$113.29 on the ICE Futures Exchange in London.

After three straight days of declines, oil posted gains in Asia on Thursday.

, helped by expectations the People's Bank of China will soon take more steps to stimulate the world's No. 2 economy. Spain later announced severe budget cuts intended to convince the world that it can meet deficit-reduction targets.

Still, oil analyst Stephen Schork said he expects “high volatility” as oil contracts for October expire.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Euro firms against US dollar, yen in Asian forex trade

NEXT ARTICLE
World stocks get boost after Spain promises to cut budget

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit