国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

  Home>News Center>Bizchina
       
 

Rate hike contributes to oil price slump
(Agencies)
Updated: 2004-10-30 09:24

The surprise interest rise by China's central bank on Thursday has contributed to a continuing slump of the world oil prices this week, edging closer to US$50 a barrel, analysts say.

U.S. light, sweet crude was trading down 39 cents at US$50.53 a barrel in early Asian dealing after losing US$1.54 on Thursday. London Brent crude was down 57 cents at US$47.80 a barrel.

The more than US$5 decline from Monday's US$55.67 a barrel all-time high in New York was triggered by U.S. government data showing a shockingly large rise in crude oil supplies on Wednesday, which spurred some big money funds to take profits out of sizzling prices.

The influx of speculative fund money into the oil market this year has prompted traders to take a more macro-economic view for price direction, focusing in particular on China, the engine behind this year's surge in demand, analysts said.

Just as news of strong gross domestic product expansion in China buoyed oil prices last week, Thursday's surprise interest rate hike -- by a very mild 27 basis points -- rattled oil markets, although the move appeared little more than symbolic.

"I think the impact on the economy will be limited," a spokesman for the central People's Bank of China said.

The economy has slowed for several quarters in a row but grew a still-robust 9.1 percent in the third quarter, but analysts say a sustained series of rate increases or a decision to allow the yuan currency to rise could have a more material impact on growth.

China's oil demand growth is expected to slow from this year's 14.5 percent to 5.7 percent next year, said the International Energy Agency.



 
  Story Tools  
   
Advertisement
         

    满洲里市| 柳林县| 拜城县| 綦江县| 南通市| 灵台县| 绥化市| 罗甸县| 克东县| 林州市| 图木舒克市| 丹寨县| 科技| 永泰县| 龙陵县| 延庆县| 庆元县| 临桂县| 渭源县| 页游| 永嘉县| 社旗县| 田东县| 尼木县| 榆中县| 福海县| 怀柔区| 新闻| 房山区| 恭城| 阳原县| 河津市| 海兴县| 玉田县| 宝坻区| 嘉义市| 玉门市| 开江县| 临高县| 广水市| 茌平县|