BLBG: Crude Oil Rises After China Cuts Rates to Boost Slowing Economy
By Grant Smith
Nov. 26 (Bloomberg) -- Crude oil rose after China’s central bank cut interest rates for the fourth time in ten weeks to boost slowing economic growth.
Crude oil for January delivery rose as much as 68 cents, or 1.3 percent, to $51.45 a barrel on the New York Mercantile Exchange, and traded at $51.43 at 9:03 a.m. London time.
To contact the reporters on this story: Grant Smith in London at gsmith52@bloomberg.net
