Oil prices are rebounding on Wednesday morning after plunging in the previous session as the first Chinese interest rate rise in three years is expected to slow down economic growth in the country, players said.
The front month contract for Brent North Sea crude oil was last changing hands up USD 0.48 at USD 81.58/bbl on the ICE platform, while the WTI November contract traded USDS 0.65 higher at USD 80.14/bbl.
On Tuesday, the Brent contract plunged USD 3.27 to USD 81.10/bbl, following an intraday high of USD 84.45/bbl, while the WTI contract shed USD 3.59 to end the day at USD 79.49/bb
Mittwoch, 20.10.2010, 07:54 Uhr
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