Brent rises toward $99 on Norway supply cut, China data

By International Business Times,  July 09, 2012, 05:06:08 AM EDT

(Reuters) - Brent crude climbed toward $99 a barrel on Monday as failed labor talks in Norway stoked worries of a total output shutdown, while hopes that China would ease monetary policy and improve fuel demand also supported prices.

Data from top energy user China showed annual consumer inflation cooling further in June, leaving room for Beijing to ease policy without stoking upward price pressures and helping most commodities recover from steep losses triggered by bleak U.S. jobs data in the previous session.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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