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Find all the economic and financial information on our Orishas Direct application to download on Play StoreAfter China took steps to support its faltering economy, oil prices rose on Monday, as did stock markets.
While American West Texas Intermediate crude was $80.08 per barrel, up 25 cents, or 0.3%, Brent rose 22 cents, or 0.3%, to $84.70 per barrel at 0049 GMT. According to Tony Sycamore, market analyst at IG, oil enjoyed a better tone at the opening, after China halved stamp duties on stock trading starting Monday in the latest attempt to boost struggling markets
.Brent and WTI posted a second week of losses on Friday after Fed Chairman Jerome Powell said the US central bank may need to raise rates further to cool inflation that is still too high.
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