The Traderszone Network

Published in TZ Latest News 10 May, 2015 by The TZ Newswire Staff

Oil steady, little help from Chinese interest rate cut

Crude futures were little changed on Monday as moves by China to bolster its flagging economy failed to instill confidence that oil demand in the world’s largest energy consumer would keep growing quickly enough to absorb a global supply glut. China cut interest rates for the third time in six months on Sunday to stoke its sputtering economy, which is headed for its worst year in a quarter of century. “There’s been limited response in the oil markets today,” said Ric Spooner, chief analyst at CMC Markets in Sydney.

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