Brent Rises Toward $107/B, Stimulus Measures Eyed

Published on Tuesday, 31 Jul 10:23 am

Brent crude rose toward $107/B on Monday, stretching gains into a fifth consecutive day on hopes the US  and Europe will this week announce new measures to shore up their fragile economies, boasting the outlook for oil demand. Slowing growth in the US has triggered expectations of stimulus measures from the Federal Reserve, which meets on Tuesday and Wednesday (Reuters). Brent crude rose 45 cents to $106.92/B, while US crude rose 61 cents to $90.74/B gaining for a fifth day.

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