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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

26 December 2024 10:52  |

Oil Holds Gains; Focus on China Stimulus, U.S. Stocks

Oil rose as stimulus measures in China may help to bolster demand, and a US industry report flagged another drop in stockpiles.

Brent climbed toward $74 a barrel after a 1.3% gain on Tuesday, with West Texas Intermediate above $70.

In a bid to bolster growth, China is giving local officials more leeway in how they invest proceeds of government bonds, while keeping interest rates steady for now.

Policymakers pledged a “moderately loose” monetary stance in the top crude importer earlier this month.

Source: Bloomberg

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