Inaction by the Chinese government following an 11 percent rout in local stock markets last week encouraged a free-fall in global equities and other commodities on Monday.
Yingxi Yu, Commodity Analyst at Barclays who tracks the energy markets tells CNBC-TV18 that the shutting down of refineries in Japan is a positive for Asian refiners. She also finds that short-term risk aversion can lead to a further short-term correction in oil prices. "Brent crude seems to be well supported at USD 110 a barrel."
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.