Crude prices trade higher after China's currency move

08:41, June 22, 2010      

Email | Print | Subscribe | Comments | Forum 

Crude prices traded higher on Monday as China's move to make its currency more flexible raised expectations for more demand.

Crude prices rose as high as 78.92 U.S. dollars in New York markets after China's central bank said it plans to allow the currency to be traded with more flexibility.

Prices were boosted as Russia cut gas supplies to Belarus by 15 percent on Monday raising fears of disruptions in deliveries to Europe.

Light, sweet crude gained 64 cents to settle at 77.82 U.S. dollars a barrel on the New York Mercantile Exchange after rising.

In London, Brent crude rose 60 cents to settle at 78.82 dollars on the ICE futures exchange.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Passengers wait for help after a coach skidded of an icy road in Xinghai county, Northwest China's Ningxia Hui autonomous region, Sept 28, 2011. The accident occurred at an altitude of 4,400 meters Wednesday morning and has trapped 41 passengers in the snow covered area. The coach was travelling from Xining city to Yushu county in Qinghai. (Photo/Xinhua)
  • A doctor takes blood sample of a girl for the dengue virus test at a hospital in east Pakistan's Lahore on Sept. 28, 2011. The death toll as a result of Pakistan's dengue fever outbreak continues to rise at alarming rates as at least 108 people have now been confirmed dead. The total number of people who have contracted the virus is reported to be at least 10,585 in Punjab, with 9,000 reported from Lahore. (Xinhua Photo/Sajjad)
  • Local pupils tie the rice at Jindai Botanical Garden in Chofu, Japan, Sept. 28, 2011. A group of pupils reap the rice they planted this May in Jindai Botanical Garden on Wednesday. (Xinhua/Kenichiro Seki)
  • A news conference on the nation's first space-docking procedure is held at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 28, 2011. The Tiangong-1, or "Heavenly Palace 1," is scheduled to be sent into space late Thursday to perform the nation's first space-docking procedure. (Xinhua/Wang Jianmin)
  • Actors perform during a dancing opera about Confucius (551-497BC), a Chinese thinker, educationist and philosopher, in Qufu, Confucius' hometown in east China's Shandong Province, Sept. 27, 2011. (Xinhua/Xu Suhui)
  • A volunteer greets journalists on the Media Public Day at Ellington field in Texas, the United States, Sept. 27, 2011. Journalists on Tuesday were invited to visit part of the airplanes for the upcoming air show. The 27th Houston Air Show will be held on Oct. 15-16 at Ellington field. (Xinhua/Song Qiong)
Hot Forum Discussion