Brent Rises Above $122/B

Published on Wednesday, 29 Feb 11:18 am

Brent crude rose above $122/B on Wednesday, snapping two days of losses, in line with gains across broader markets on expectations that cheap loans from the European Central Bank will spur buying of riskier assets. Asian stocks firmed and the euro held its ground as markets expect European banks to borrow about $670bn from the ECB later in the day. Front-month Brent rose 69 cents to $122.24/B, after sliding $2.62/B on Tuesday to settle at $121.55/B, while US crude gained 54 cents to $107.09/B, settling at $106.55/B Wednesday morning in Singapore.

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