TOKYO : Global oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories. Brent futures rose 9 cents, or 0.1 per cent, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was stea
TOKYO : Global oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories.
China's top economic planner pledged on Tuesday that it would roll out policies to"restore and expand" consumption in the world's second-largest economy as consumers' purchasing power remained weak. "Crude oil gained amid signs of further tightening across the market. Russia appears to be making good on its promise to reduce supply," ANZ Research said in a client note on Wednesday.
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