Oil prices rose in line with rising stock markets, after China took steps to support its struggling economy. Although investors remain concerned about the pace of growth and rising U.S. interest rates that could dampen fuel demand.
Brent crude rose 22 cents, or 0.3 percent, to $84.70 a barrel, while U.S. West Texas Intermediate crude was at $80.08 a barrel, up 25 cents, or 0.3 percent. According to IG Markets, oil benefited from positive signs at the opening after China halved stamp duty on stock trading from Monday in the latest attempt to boost troubled markets.
Source (Al-Arabiya.net Website, Edited)
