Commodities
Oil Advances as China Signals Bolder Stimulus for Next Year
- WTI futures rise as much as 2.2% and Brent also climbs
- World on watch for more chaos after the fall of Syria’s Assad
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Oil climbed as China’s leaders used their most direct language on stimulus in years, while traders are also keeping an eye on developments in the Middle East.
West Texas Intermediate gained 1.7% to settle above $68 a barrel. Brent topped $72 a barrel. China’s leaders vowed to embrace a “moderately loose” monetary policy in 2025, signaling more rate cuts ahead and shifting from a “prudent” strategy that’s held for 14 years. Easing monetary policy in China lifted oil’s demand outlook, but traders remain measured about potential upside.