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Urgent: oil prices rise after PBOC's decision

Xinhua, March 1, 2016 Adjust font size:

Oil prices rise Monday as the People's Bank of China (PBOC) announced to lower its reserve requirement ratio (RRR) to support the economy.

The West Texas Intermediate for April delivery moved up 97 cents to settle at 33.75 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery increased 87 cents to close at 35.97 dollars a barrel on the London ICE Futures Exchange. Enditem