06 September 2012 11:44 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures rose on Thursday, rising by more than $1/bbl at one stage, on expectations that the European Central Bank (ECB) will reveal plans for a new bond purchasing programme to address the eurozone debt crisis.
At 10:25 GMT, October Brent crude on ?xml:namespace>
October NYMEX light sweet crude futures (WTI) were trading at $96.42/bbl, up by $1.06/bbl from the previous close. Earlier, the
ECB president Mario Draghi is expected to announce plans to buy bonds of the heavily debt-laden eurozone nations such as
Borrowing costs for 10-year Spanish bonds are presently around 6.42%, while
Traders also await the release of US August employment data on Friday.
Weak data may encourage the US Federal Reserve consider a further round of quantitative easing to stimulate the
($1 = €0.79)
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