Oil prices rise on big draw in US stocks, China stimulus hopes

TOKYO  – Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank’s cut in banks’ reserve ratio reinforced hopes of more stimulus measures and economic recovery. The March contract for Brent crude gained 20 cents, 0.3 percent, to $80.24 a barrel as at Read The Rest at :