Brent Crude Steady On Hopes Of China Rebound

Published on Thursday, 18 Oct 11:13 am

Brent futures held above $113/B on Thursday by hopes for a rebound in year-end economic growth in China, and with simmering tension in the Middle East  promoting additional support. China’s economy expanded 7.4% in the quarter to September from a year earlier. This was its slowest pace since 1Q 2009 . But other data released on Thursday suggested that the worst may be over and that the Chinese economy will pick up in the 1Q (Reuters). Brent gained 33 cents to $113.55/B. while US oil rose 2 cents to $92.14/B.

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