Crude Oil Rebounds as Driven by Strong Stock Markets

After days of decline, equities have reached a level that investors find ‘reasonable’ to buy. Led by China with the Shanghai Composite Index jumping almost +2%, stocks in Asia were generally higher today. The MSCI Asia Pacific Index soared +1.4%, the biggest increase over the past 2 weeks. RBA’s decision to leave the cash rates unchanged boosted banking shares in Australia while policymakers’ comments of an about-trend growth also boosted market confidence. European stocks open higher with benchmark indices gaining 1.5- 2.5%.

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Crude Oil Rebounds as Driven by Strong Stock Markets