Crude oil gains on China’s move to boost economy
06/02/2015 12:25
Crude oil prices rose by 0.85 per cent on Friday at the domestic markets after China recently took steps to pour liquidity into the world's second-biggest economy. People’s Bank of China announced that it lowered the amount of deposits banks are required to hold as reserves to 19.5 per cent from 20.0 per cent, in an effort to boost lending and spur economic activity in the world’s second largest economy.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,214 per barrel, up by 0.85 per cent, after opening at Rs. 3,170 against the previous closing price of Rs. 3,187. It touched the intra-day high of Rs. 3,223 till the trading. (At 11.59 AM today).
06/02/2015 12:25
Crude oil prices rose by 0.85 per cent on Friday at the domestic markets after China recently took steps to pour liquidity into the world's second-biggest economy. People’s Bank of China announced that it lowered the amount of deposits banks are required to hold as reserves to 19.5 per cent from 20.0 per cent, in an effort to boost lending and spur economic activity in the world’s second largest economy.
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,214 per barrel, up by 0.85 per cent, after opening at Rs. 3,170 against the previous closing price of Rs. 3,187. It touched the intra-day high of Rs. 3,223 till the trading. (At 11.59 AM today).
