Oil stabilises as PBoC calms markets

Note: This section contains information in English only.
Source: WBP Online
Crude futures were treading water on Wednesday, as the PBoC lowered rates in order to help the slowing economy and calm down the recent turmoil in Chinese equities. However, the concerns about a supply glut still persist, putting more pressure on oil prices. WTI failed to rise above $40 level, trading 0.14% higher at $39.44 per barrel, while Brent crude climbed 0.25% to $43.32 per barrel by 07:59 AM GMT. 
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