Earlier this morning, there was news from the central bank of Japan stating that due to the slowing down of the global economy, very soon it would be introducing more of spur into its country, so that it could boost its asset purchases. Following this, there were hopes that other central banks might do the same thing. As a result, the oil risen.
After a period of six weeks, this is for the first time that the price of oil has been noted down at such a low value. Reason seems to be Spain’s finances that have actually raised worries while executing out gains in European and Asian markets.
