Oil prices are rising on Monday after China moved to end the yuan's fixed rate to the US dollar, raising expectations of higher crude demand on the country's improved purchasing power, said players.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 79.54/bbl on the ICE platform, up USD 1.32 on Friday's close.
Over the weekend, China's central bank announced plans to loosen the yuan's two-year peg to the dollar, adopted during the global financial crisis to shield the country's exporters. It also ruled out a one-time
Montag, 21.06.2010, 08:22 Uhr
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