Crude oil prices rebounded in Asian session on Monday as China had not announced a rate hike over the weekend even though inflation surged above 5%. The increase in reserve requirement ratio (RRR) last week was viewed as a tame measure and eased concerns about slowdown in growth. The benchmark contract for WTI crude oil climbed to 88.26 after settling at 87.79 last Friday. Sustainable rally above 90 needs significant improvement in global oil demand outlook but it appears unlikely in the near-term.
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Crude Oil Rebounds as China Delays Rate Hike
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