China Needs to Tighten Further to Curb Inflation
BonTradeCrude oil prices initially slumped yesterday as the People's Bank of China (PBOC) raised interest rates for the second time in 6 weeks. WTI crude then recovered mildly while Brent crude rebounded strongly later in the day as the unrest in Egypt escalated again. The front-month contract for WTI crude oil price plunged to as low as 86.88 before closing at 86.94, down -0.62%. The benchmark contract for Brent crude reversed the losses and ended the day gaining +0.68%.
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China Needs to Tighten Further to Curb Inflation
