The Traderszone Network

Published in TZ Latest News 25 August, 2015 by The TZ Newswire Staff

Oil near six-and-a-half-year lows as China economy fears linger

Crude oil futures held in a narrow band on Wednesday not far off 6-1/2 year lows after China’s central bank moved to support the country’s stumbling economy, while concerns about a supply glut capped gains. Asian shares struggled on Wednesday as investors feared fresh rate cuts in China would not be enough to stabilise the country’s slowing economy or halt a stock collapse that is wreaking havoc in global markets. ANZ said China’s rate cuts had calmed commodity markets, but they remained cautious and gains would be limited.