NYMEX crude rallies as China fails to hike interest rates

摘要

New York-New York Mercantile Exchange Jan- uary crude oil settled 82 cents higher at $88.61/b December 13, garnering support from a firm equities market and softer US dol- lar after China failed to boost interest rates over the weekend. At the close of NYMEX open outcry, the US Dollar Index on ICE was down more than 86 points after dipping to an intra-session low of 79.101, while global equities surged throughout the session on the absence of a Chinese rate hike.